BB&T Is in a Well Structured Setup

New York, February 18th (TradersHuddle.com) - BB&T Corporation (NYSE:BBT) closed the trading day at $30.27, near its 50 day and 200 day moving averages set at $29.94 and $30.59 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 $30.59. 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 $29.94 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 17,773.64 ▼57.12 (-0.32%)
o S&P 500 2,065.30 ▼10.51 (-0.51%)
o NASDAQ 4,775.36 ▼29.93 (-0.62%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,773.64 Trade time:4:40PM EDT Value change:▼57.12 (-0.32%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,065.30 Trade time:4:40PM EDT Value change:▼10.51 (-0.51%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,775.36 Trade time:5:15PM EDT Value change:▼29.93 (-0.62%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.