Approaching Support- Liberty Media

Published on Monday, 02 August 2010 06:28 Written by TradersHuddle Staff

New York, August 2nd (TradersHuddle.com) - Shares of Liberty Media Corp - Interactive (NASDAQ:LINTA) are trading very close to calculated support at $10.91 with current price action closing at just $11.32 places the stock price near levels where traders will start paying attention.

Liberty Media Corp - Interactive (NASDAQ:LINTA) is a tracking stock issued by Liberty Media Corporation to track the performance of the Interactive group. The Interactive groups interests include a TV home shopping network, Internet shopping, and online travel booking site.

Liberty Media's current stock range is defined by current calculated support defined at $10.91 and by the resistance level at $12.02, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Liberty Media's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $12.02 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.