US Airways Is Near its 50 Day Moving Average

Published on Friday, 20 July 2012 10:52 Written by TradersHuddle Wire

New York, July 20th (TradersHuddle.com) - US Airways Group, Inc. (NYSE:LCC) closed the trading day at $12.5, near its 50 day moving average that is set at $12.41. US Airways' price action is just above this important support level, providing a trading opportunity.

US Airways Group, Inc. (NYSE:LCC) is an air carrier that transports passengers, property, and mail. The Company provides regularly scheduled service at airports in the United States, Canada, Europe, the Caribbean, and Latin America. The airline operates with major hubs in Phoenix, Charlotte and Philadelphia.

The peaks and troughs algorithm shows calculated support at $12.88 and calculated resistance at $14.51. 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 US Airways 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.