Harman International Is Close to the 200 Day Moving Average

Published on Wednesday, 30 May 2012 06:48 Written by TradersHuddle Wire

New York, May 30th (TradersHuddle.com) -Harman International Industries, Inc. (NYSE:HAR) closed the trading session at $41.62 near its 200 day moving average set at $41.07. Harman's price action is just above this key support level, grabbing traders' attention for a possible trading opportunity.

Harman International Industries, Inc. (NYSE:HAR) designs, manufactures, and markets audio and electronic systems. The Company's Automotive segment designs, manufactures and markets audio, electronic and infotainment systems for vehicle applications and its Consumer segment designs, manufactures and markets audio and electronic systems for home, mobile and multimedia applications.

The latest price action range, defined by a peaks and troughs algorithm, places calculated support at $38.60 and resistance at $41.85. These levels will provide insight for the stock's latest price dynamics.

Traders wanting to establish a position on Harman International will look for evidence of buying near the 200 day moving average, before opening the position as close as possible to this key technical level. Also, they need to consider the latest range defined by the calculated support and resistance levels for insights on other key levels that might have an effect on future price movements.