Trading Idea: - Is BB&T close to Resistance?

New York, January 24th (TradersHuddle.com) - Shares of BB&T Corporation (NYSE:BBT) are trading very close to calculated resistance at $31.22. The stock ended the trading session at just $30.76, which is near levels that make it difficult to buy or start a position.

BB&T Corporation (NYSE:BBT) operates banking locations in North and South Carolina, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company offers full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, and international banking.

BB&T's stock range is defined by its calculated support defined at $26.86 and by the resistance level at $31.22; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for BB&T. However, as the stock pulls back towards $26.86 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $31.22 then traders will get an opportunity to enter the stock as it moves to a higher range.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,092.60 ▲5.97 (0.03%)
o S&P 500 1,987.86 ▲0.85 (0.04%)
o NASDAQ 4,468.54 ▼5.15 (-0.12%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,092.60 Trade time:10:41AM EDT Value change:▲5.97 (0.03%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,987.86 Trade time:10:41AM EDT Value change:▲0.85 (0.04%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,468.54 Trade time:10:41AM EDT Value change:▼5.15 (-0.12%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.