Error
  • JLIB_APPLICATION_ERROR_COMPONENT_NOT_LOADING
  • JLIB_APPLICATION_ERROR_COMPONENT_NOT_LOADING
  • Error loading component: com_content, 1
  • Error loading component: com_content, 1
  • Error loading component: com_content, 1

New York, April 19th (TradersHuddle.com) - Shares of BB&T Corporation (NYSE:BBT) closed the trading session at $29.27 below calculated support at $29.82. The stock broke long setups, prompting the bulls to worry that this move might give the bears the upper hand.

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 was trading in a well defined range with support at $29.82 and resistance at $31.43; given that this range was broken traders will be closely monitoring the stock's price action for clues of direction.

From a technical perspective, it can be expected that previous support becomes resistance, as the new range gets defined. However, $29.82 will remain in focus as BB&T's price action places the stock near the broken support. Traders will be waiting to see if it can bounce back and return to its previous range.

Traders wanting to establish a short position in BB&T can do so if the stock breaks the intraday low, or if the stock bounces back and selling materializes again at previous support of $29.82. However, if traders want to build a long position, the best entry point to do so is when the price action takes the stock back to calculated support.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,630.27 ▲189.68 (1.09%)
o S&P 500 2,093.25 ▲25.61 (1.24%)
o NASDAQ 5,089.21 ▲49.43 (0.98%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,630.27 Trade time:4:29PM EDT Value change:▲189.68 (1.09%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,093.25 Trade time:4:29PM EDT Value change:▲25.61 (1.24%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:5,089.21 Trade time:5:15PM EDT Value change:▲49.43 (0.98%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.