BB&T Is Near its 200 Day Moving Average

Published on Tuesday, 29 January 2013 06:36 Written by TradersHuddle Wire

New York, January 29th (TradersHuddle.com) -BB&T Corporation (NYSE:BBT) closed the trading session at $31 near its 200 day moving average set at $30.65. BB&T's price action is just above this key support level, grabbing traders' attention for a possible trading opportunity.

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.

The latest price action range, defined by a peaks and troughs algorithm, places calculated support at $26.86 and resistance at $31.19. These levels will provide insight for the stock's latest price dynamics.

Traders wanting to establish a position on BB&T 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.