BB&T Moving Above Resistance

Published on Wednesday, 08 February 2012 06:12 Written by TradersHuddle Wire

New York, February 8th (TradersHuddle.com) - Shares of BB&T Corporation (NYSE:BBT) closed the trading session at $29.52 just above calculated resistance at $29.25 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

BB&T Corporation (NYSE:BBT) operates banking locations in North and South Carolina, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company offers full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, and international banking.

BB&T's stock was trading in a well defined range with support at $21.03 and resistance at $29.25, given that this range was broken traders will be closely monitoring the stock