Close to Key Levels: Altera

New York, March 27th (TradersHuddle.com) - Altera Corporation (NASDAQ:ALTR) closed the trading day at $39.22, near its 50 day and 200 day moving averages set at $39.25 and $38.28 respectively. Altera's price action placed the stock above the 200 day moving average but below its 50 day moving average, a setup that signals a possible break out.

Altera Corporation (NASDAQ:ALTR) designs, manufactures, and markets programmable logic devices and associated development tools. The Company's products, include a variety of programmable logic devices and hardcopy application-specific integrated circuits. Altera serves customers primarily in the communications, computer and storage, industrial, and consumer sectors

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

A tiered approach, appears to be the best strategy to maximize possible movements in the stock, as traders could establish a small position in Altera and wait for the stock to break out above its 50 day moving average at $39.25. Then they could add to the position as momentum builds with the breakout. On the flip side, if support being referenced at the 200 day moving average set at $38.28 breaks, it could signal further downside pressure for Altera.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 16,563.30 ▼317.06 (-1.88%)
o S&P 500 1,930.67 ▼39.40 (-2.00%)
o NASDAQ 4,369.77 ▼93.13 (-2.09%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,563.30 Trade time:4:33PM EDT Value change:▼317.06 (-1.88%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,930.67 Trade time:4:33PM EDT Value change:▼39.40 (-2.00%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,369.77 Trade time:5:15PM EDT Value change:▼93.13 (-2.09%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.