Is Express Scripts Close to Support?

Published on Friday, 01 June 2012 06:56 Written by TradersHuddle Wire

New York, June 1st (TradersHuddle.com) - Shares of Express Scripts, Inc. (NASDAQ:ESRX) are trading very close to calculated support at $50.65 with price action closing at just $52.19 and placing the stock near levels where traders will start paying attention.

Express Scripts stock range is defined by its calculated support defined at $50.65 and by the resistance level at $53.87, 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 Express Scripts price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $53.87 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

Express Scripts, Inc. (NASDAQ:ESRX) is a full service pharmacy benefit management and specialty managed care company. The Company serves managed care organizations, insurance carriers, third party administrators, employers, and union-sponsored benefit plans.