Jack in the Box Near the 200 Day

Published on Thursday, 02 February 2012 06:44 Written by Christopher Lynn

New York, February 2nd (TradersHuddle.com) - Shares of Jack in the Box Inc. (NASDAQ:JACK) traded at $22.07 close to its 200 day moving average currently set at $20.97. Jack in the Box's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Jack in the Box Inc. (NASDAQ:JACK) operates and franchises Jack In the Box fast-food restaurants. Its drive-thru restaurants offer hamburgers, specialty sandwiches, salads, finger foods, and side items.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $21.09 and calculated resistance at $22.67. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Jack in the Box stock.

Traders wanting to establish a position on Jack in the Box 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.