Trading Idea - Entry Levels for CBS

Published on Thursday, 24 June 2010 19:48 Written by Christian Paolinetti

New York, June 24th (TradersHuddle.com) - Shares of CBS Corporation (NYSE:CBS) are trading very close to calculated support at $13.10 with current price action closing at just $13.77 places the stock price near levels where traders will start paying attention.

CBS Corporation (NYSE:CBS) is a media company that operates broadcasting, television production, and publishing businesses. The Company operates television and radio stations, produces and syndicates television programs, publishes books, provides online content as well as provides outdoor advertising.

CBS' current stock range is defined by current calculated support defined at $13.10 and by the resistance level at $15.29, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to CBS' price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $15.29 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.