Aeropostale near Support

Published on Sunday, 15 August 2010 13:36 Written by TradersHuddle Staff

New York, August 15th (TradersHuddle.com) - Shares of Aeropostale, Inc. (NYSE:ARO) are trading very close to calculated support at $23.01 with current price action closing at just $23.11 places the stock price near levels where traders will start paying attention.

Aeropostale?s (NYSE:ARO) principal activity is to retail casual apparel and accessories for both young women and young men aged eleven to twenty. The company offers a focused collection of fashion basic apparel, graphic t-shirts, tops, bottoms, sweaters, jeans, outerwear and accessories. It also provides customers with a focused selection of active-oriented, fashion basic merchandise at compelling values. Trademarks include AEROPOSTALE and AERO. The company has operations in Alabama, Arkansas, Colorado, Georgia, Indiana, Iowa and other states.

Aeropostale's current stock range is defined by current calculated support defined at $23.01 and by the resistance level at $31.05, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Aeropostale's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $31.05 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.