BB&T Is in a Tight Range between the 50 and 200 Day Moving Averages

New York, January 31st (TradersHuddle.com) - BB&T Corporation (NYSE:BBT) closed the trading day at $30.56, near its 50 day and 200 day moving averages set at $29.37 and $30.65 respectively. BB&T's price action placed the stock above the 50 day moving average but below its 200 day moving average, providing a nice trading setup with clear reference points.

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 seems to be setting up for a tight range between the 50 day moving average as support and the 200 day moving average serving as resistance.

A tiered approach appears to be the best way to maximize possible movements in the stock, as traders could establish a small position in BB&T and wait for the stock to break out above the 200 day moving average at $30.65. Then they could add to the position as momentum builds with the breakout. On the other hand, if support being referenced at the 50 day moving average set at $29.37 breaks, it could signal further downside for BB&T in the horizon.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,067.56 ▼30.89 (-0.18%)
o S&P 500 2,002.28 ▼1.09 (-0.05%)
o NASDAQ 4,598.19 ▲17.92 (0.39%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,067.56 Trade time:4:29PM EDT Value change:▼30.89 (-0.18%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,002.28 Trade time:4:29PM EDT Value change:▼1.09 (-0.05%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,598.19 Trade time:5:15PM EDT Value change:▲17.92 (0.39%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.