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.
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