Invesco Is Approaching its 200 Day Moving Average
Published on Friday, 22 June 2012 08:36 Written by TradersHuddle Wire
New York, June 22nd (TradersHuddle.com) - Invesco Limited (NYSE:IVZ) closed the trading session at $21.52, near its 200 day moving average set at $21.61. Invesco's stock action is below this level, which makes the stock difficult to be bought, as it will face resistance as it approaches its 200 day moving average.
Invesco Limited (NYSE:IVZ) is an independent investment management group. The Group specializes in investment management services, covering equities, fixed income and alternatives like real estate, private equity and absolute return strategies.
Latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $21.49 and resistance at $23.12. Traders should closely monitor these levels, as they provide great reference points for the latest price action in Invesco.
If traders want to establish a position on Invesco, given that resistance could materialize as the stock approaches its 200 day moving average, a trade might materialize as the stock manages to break this important level. After the breakout, the 200 day moving average could be used as support going forward. However, until the break materializes, traders need to exercise patience.
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