Close to the 50 Day Moving Average: Crocs
Published on Wednesday, 23 January 2013 08:44 Written by TradersHuddle Wire
New York, January 23rd (TradersHuddle.com) - Crocs, Inc. (NASDAQ:CROX) closed the trading day at $14.27, near its 50 day moving average that is set at $13.72. Crocs' price action is just above this important support level, providing a trading opportunity.
Crocs, Inc. (NASDAQ:CROX) produces soft, lightweight, non-marking, slip- and odor-resistant shoes made of closed-cell resin material. Crocs manufactures a wide assortment of styles for men, women, boys and girls and markets them to retail chains.
The peaks and troughs algorithm shows calculated support at $14.13 and calculated resistance at $15.90. 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 Crocs 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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