Agrium Close to 200 Day Moving Average

Published on Sunday, 29 January 2012 16:44 Written by TradersHuddle Staff

New York, January 29th (TradersHuddle.com) - Shares of Agrium Inc. (NYSE:AGU) traded at $81.09 close to its 200 day moving average currently set at $79.97. Agrium's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Agrium Inc. (NYSE:AGU) supplies nitrogen, potash and phosphate for agricultural, industrial, and specialty use. The Company operates throughout the America's while it markets its products globally.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $65.73 and calculated resistance at $81.00. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Agrium stock.

Traders wanting to establish a position on Agrium 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.