FLIR Systems Is in a Tight Range between the 50 and 200Day

Published on Thursday, 15 March 2012 09:00 Written by TradersHuddle Wire

New York, March 15th (TradersHuddle.com) - Shares of FLIR Systems, Inc. (NASDAQ:FLIR) closed the session at $26.11 near its 50 day and 200 day moving averages set at $25.8699 and $27.0764 respectively. FLIR's price action is above the 50 day moving average but below its 200 day moving average, which provide a nice trading setup with clear reference points.

FLIR Systems, Inc. (NASDAQ:FLIR) designs, manufactures, and markets thermal imaging and broadcast camera systems for a variety of applications in the commercial and government markets.

FLIR Systems price action seems to be setting up for a tight range between the 50 day moving average as support and the 200 day moving average serving as resistance.

A tiered approach to enter the stock, appears to be the best way to maximize possible movements from the stock, as traders could enter FLIR Systems with a small position and wait for the stock to break out above the 200 day moving average at $27.0764, where traders could add to their position as momentum builds with the breakout. The flip side will be if support being referenced at the 50 day moving average set at $25.8699 breaks it could mean further downside in the horizon for FLIR Systems.