Aflac Is Close to the 200 Day Moving Average

Published on Tuesday, 07 August 2012 06:20 Written by TradersHuddle Wire

New York, August 7th (TradersHuddle.com) -Aflac, Inc. (NYSE:AFL) closed the trading session at $44.94 near its 200 day moving average set at $43.91. Aflac's price action is just above this key support level, grabbing traders' attention for a possible trading opportunity.

Aflac, Inc. (NYSE:AFL) and through its subsidiaries, provides supplemental insurance in the United States and Japan. Some of Aflac's products include accident/disability plans, cancer expense plans, short-term disability plans, sickness and hospital indemnity plans, and hospital intensive care plans.

The latest price action range, defined by a peaks and troughs algorithm, places calculated support at $42.39 and resistance at $46.92. These levels will provide insight for the stock's latest price dynamics.

Traders wanting to establish a position on Aflac 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.