Emerson Close to 200 Day Moving Average

Published on Thursday, 02 February 2012 09:40 Written by Christopher Lynn

New York, February 2nd (TradersHuddle.com) - Shares of Emerson Electric Co. (NYSE:EMR) traded at $51.88 close to its 200 day moving average currently set at $50.02. Emerson's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Emerson Electric Co. (NYSE:EMR) manufactures and markets electrical, electromechanical, and electronic products and systems. The Company produces a variety of products, including process control, industrial automation, electronics, appliance components, and electric motors. The company was founded in 1890 and is based in St. Louis, Missouri.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $45.00 and calculated resistance at $52.76. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Emerson stock.

Traders wanting to establish a position on Emerson 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.