CenturyLink Is Close to the 50 Day Moving Average
Published on Monday, 02 July 2012 06:16 Written by TradersHuddle Wire
New York, July 2nd (TradersHuddle.com) - CenturyLink, Inc. (NYSE:CTL) closed the trading day at $39.49, near its 50 day moving average that is set at $38.41. CenturyLink's price action is just above this important support level, providing a trading opportunity.
CenturyLink, Inc. (NYSE:CTL) is an integrated communications company. The Company provides a wide range of communications services, including local and long distance voice, Internet access and broadband services. CenturyTel operates throughout the United States.
The peaks and troughs algorithm shows calculated support at $36.91 and calculated resistance at $39.28. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on CenturyLink should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
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