Close to the 50 Day - Crane

Published on Sunday, 05 February 2012 17:04 Written by TradersHuddle Staff

New York, February 5th (TradersHuddle.com) - Shares of Crane Company (NYSE:CR) closed the trading day at $49.65 close to its 50 day moving average currently set at $47.38. Crane's price action is just above this important support level translating into a trading opportunity.

Crane Company (NYSE:CR) is a diversified manufacturer of engineered industrial products. Its products include vending machines, airplane braking devices, pumps, valves, and other industrial goods. The company serves a variety of industries, including aerospace, power generation and food and beverage processing.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $46.72 and calculated resistance at $49.85. 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 Crane 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.