Computer Sciences Approaching its 200 Day

Published on Thursday, 09 February 2012 05:36 Written by TradersHuddle Wire

New York, February 9th (TradersHuddle.com) - Shares of Computer Sciences Corporation (NYSE:CSC) closed the trading session at $31.39 near its 200 day moving average currently set at $31.88. Computer Sciences' price action is below this important level, which makes the stock difficult to buy, as there will certainly be resistance as it approaches its 200 day moving average.

Computer Sciences Corporation (NYSE:CSC) provides consulting and information technology (IT) services to industry and government. The Company provides consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $26.39 and calculated resistance at $28.13. These levels are being closely watched by traders, as they provide great reference points for the latest price dynamics in Computer Sciences shares.

Traders should evaluate their trade if they want to establish a position on Computer Sciences given the resistance could materialize as the stock approaches the 200 day moving average. A trade might materialize as the stock manages to break this important level, as it could be used as support going forward, however until the break materializes, traders need to exercise patience. Other levels that traders will be evaluating are the ones defined by the peak and troughs algorithm that provides great price action reference points.