Reference Points for Life Technologies

Published on Thursday, 22 December 2011 19:56 Written by TradersHuddle Staff

New York, December 22nd (TradersHuddle.com) - Shares of Life Technologies Corporation (NASDAQ:LIFE) closed the trading day at $40.16 close to its 50 day moving average currently set at $39.22. Life Technologies' price action is just above this important support level translating into a trading opportunity.

Life Technologies Corporation (NASDAQ:LIFE) develops biotechnology tools for researchers. The Company offers a broad range of products and services, including systems, instruments, reagents, and custom services. its product portfolio includes technologies for capillary electrophoresis based sequencing, sequencing, mass spectrometry sample preparation, and cell culture.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $38.00 and calculated resistance at $40.49. 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 Life Technologies 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.