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

New York, February 5th (TradersHuddle.com) - Shares of BB&T Corporation (NYSE:BBT) are trading very close to calculated resistance at $31.19. The stock ended the trading session at just $30.52, 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 $31.19; 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 $31.19 then traders will get an opportunity to enter the stock as it moves to a higher range.



Related Articles

    Related Partner Headlines

      What’s the next under-$10 stock that could be ready to skyrocket? Find out now when you join David Peltier at Stocks Under $10.

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Stock Market

      Loading
      Chart
      o Dow Jones 16,351.99 ▼28.42 (-0.17%)
      o S&P 500 1,895.88 ▲9.12 (0.48%)
      o NASDAQ 4,293.42 ▲34.99 (0.82%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:16,351.99 Trade time:1:52PM EDT Value change:▼28.42 (-0.17%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:1,895.88 Trade time:1:52PM EDT Value change:▲9.12 (0.48%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:4,293.42 Trade time:1:52PM EDT Value change:▲34.99 (0.82%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.