Spirit AeroSystems Close to the 50 Day

Published on Wednesday, 14 December 2011 20:40 Written by Danny Miller

New York, December 14th (TradersHuddle.com) - Shares of Spirit AeroSystems Holdings Inc. (NYSE:SPR) closed the trading day at $19.01 close to its 50 day moving average currently set at $18.08. Spirit AeroSystems' price action is just above this important support level translating into a trading opportunity.

Spirit AeroSystems Holdings Inc. (NYSE:SPR) designs and manufactures aerostructures including fuselages, propulsion systems and wing systems for commercial and military aircrafts.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $19.21 and calculated resistance at $20.37. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on Spirit AeroSystems will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.