BCE Close to 50 Day Moving Average

Published on Tuesday, 17 January 2012 19:20 Written by TradersHuddle Staff

New York, January 17th (TradersHuddle.com) - Shares of BCE Inc. (NYSE:BCE) closed the trading day at $41.62 close to its 50 day moving average currently set at $39.73. BCE's price action is just above this important support level translating into a trading opportunity.

BCE Inc. (NYSE:BCE), provides a full range of communication services to residential and business customers in Canada. Its services includes local, long distance and wireless phone services, high speed and wireless Internet access, IP-broadband services, value-added business solutions and direct-to-home satellite and VDSL television services.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $37.45 and calculated resistance at $42.51. 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 BCE 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.