Avon Close to the 50 Day

Published on Wednesday, 01 February 2012 09:04 Written by Christopher Lynn

New York, February 1st (TradersHuddle.com) - Shares of Avon Products Inc. (NYSE:AVP) closed the trading day at $17.77 close to its 50 day moving average currently set at $17.29. Avon's price action is just above this important support level translating into a trading opportunity.

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.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $16.13 and calculated resistance at $18.67. 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 Avon 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.