Near Key Levels: Avon
Published on Wednesday, 02 May 2012 09:52 Written by TradersHuddle Wire
New York, May 2nd (TradersHuddle.com) - Avon Products Inc. (NYSE:AVP) closed the the trading session at $19.87, near its 50 day and 200 day moving averages currently set at $20.27 and $20.04 respectively. Avon's price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.
Avon Products, Inc. (NYSE:AVP) manufactures and direct sells beauty and related products. The Company markets its products to consumers worldwide through independent sales representatives.
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $21.45 and resistance at $23.58. Traders should monitor these levels, as they provide insight into the latest price dynamics in Avon.
If traders want to establish a position on Avon, given the heavy resistance expected near the 50 and 200 day moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.
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