World Fuel Services near Support

Published on Friday, 30 December 2011 17:56 Written by Christopher Lynn

New York, December 30th (TradersHuddle.com) - Shares of World Fuel Services Corporation (NYSE:INT) are trading very close to calculated support at $40.01 with current price action closing at just $41.98 places the stock price near levels where traders will start paying attention.

World Fuel Services' current stock range is defined by current calculated support defined at $40.01 and by the resistance level at $42.98, which should be used by traders planning their trades. These support and resistance levels are based on an algorithm of peaks and troughs of the stock price action.

Traders wanting to establish a position should place close attention to World Fuel Services' price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $42.98 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.

World Fuel Services Corporation (NYSE:INT) markets aviation and marine fuel services. The Company provides aviation fuel and flight plans, weather reports, and other aviation related services to passenger, cargo, and charter airlines, as well as markets marine fuel and fuel management services to shipping companies and the US military.