Avon Is Close to its 50 and 200 Day Moving Averages

New York, May 4th (TradersHuddle.com) - Shares of Avon Products Inc. (NYSE:AVP) closed the session at $21.00, near the 50 day and 200 day moving averages currently set at $20.32 and $19.96 respectively. Avon's price action is above these important levels, which could materialize into a trading opportunity.

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.

Although, the price action is above these moving averages, it's important to highlight that the 50 day moving average is currently above the 200 day moving average. This signals that the stock is not technically broken from the long side and buying the dip strategy might be the best setup to follow.

The peaks and troughs algorithm show calculated support at $19.52 and calculated resistance at $23.58. These levels should also be evaluated by traders when planning their next move, as they provide an insight into the latest price action.

If traders want to establish a position on ".$shcompname." they need to do it as close to the moving averages as possible. Also, they need to consider the latest range defined by the peaks and troughs algorithm, not forgetting that if the stock had a wild move outside its range, it could take a few days for it to establish fresh support and resistance levels.

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