Hospira Close to 50 Day Moving Average

Published on Monday, 09 January 2012 20:00 Written by Danny Miller

New York, January 9th (TradersHuddle.com) - Shares of Hospira, Inc. (NYSE:HSP) closed the trading day at $30.14 close to its 50 day moving average currently set at $30.12. Hospira's price action is just above this important support level translating into a trading opportunity.

Hospira, Inc. (NYSE:HSP) is a global specialty pharmaceutical and medication delivery company. The Company's product portfolio includes generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management systems.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $27.24 and calculated resistance at $31.52. 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 Hospira 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.