Trading Idea: Entry Levels for CNA Financial

New York, May 30th (TradersHuddle.com) - Shares of CNA Financial Corporation (NYSE:CNA) are trading very close to calculated support at $28.02 with price action closing at just $28.85 and placing the stock near levels where traders will start paying attention.

CNA's stock range is defined by its calculated support defined at $28.02 and by the resistance level at $31.50, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.

Traders wanting to establish a position should pay close attention to CNA's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $31.50 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

CNA Financial Corporation (NYSE:CNA) operates as an insurance holding company and, through its subsidiaries, provides commercial property and casualty coverages. Its services include risk management, information services, warranty and claims administration.

Note - Automated Content Created By TradersHuddle's Technical Scanner




Real Money Pro from TheStreet: Headlined by legendary hedge fund manager Doug Kass, our team of market technicians and professional traders hand you unique perspectives and breakthrough investment opportunities. Access this exciting service -- Real Money Pro -- FREE, right now!

TradersHuddle Search

Stock Search:


Site Search:

Loading

Copyright © 2013 TradersHuddle.com. All Rights Reserved.