Trading Idea - Avon Broke Resistance, What to Expect? | Trading Ideas

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Trading Idea - Avon Broke Resistance, What to Expect?

Published on Thursday, 12 January 2012 08:20 Written by Christopher Lynn

New York, January 12th (TradersHuddle.com) - Shares of Avon Products Inc. (NYSE:AVP) closed the trading session at $17.89 just above calculated resistance at $17.87 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Avon Products, Inc. (NYSE:AVP) manufactures and direct sells beauty and related products. The Company markets its products to consumers worldwide through independent sales representatives.

Avon's stock was trading in a well defined range with support at $16.13 and resistance at $17.87, given that this range was broken traders will be closely monitoring the stock

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