Dover Near the 200 Day

Published on Tuesday, 17 January 2012 19:16 Written by Christian Paolinetti

New York, January 17th (TradersHuddle.com) - Shares of Dover Corporation (NYSE:DOV) traded at $60.25 close to its 200 day moving average currently set at $58.81. Dover's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Dover Corporation (NYSE:DOV) manufactures a variety of specialized industrial products and manufacturing equipment. Its products include Material handling equipment, tank trailers, refrigeration systems, refrigeration display cases, marking and coding systems, drill bit inserts, and electronic technology equipment.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $56.81 and calculated resistance at $59.87. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Dover stock.

Traders wanting to establish a position on Dover will be looking at the price action for evidence of buying near the 200 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.