Trading Idea - Entry Levels for Crocs

Published on Monday, 16 August 2010 07:28 Written by Christopher Lynn

New York, August 16th (TradersHuddle.com) - Shares of Crocs, Inc. (NASDAQ:CROX) are trading very close to calculated support at $12.60 with current price action closing at just $12.80 places the stock price near levels where traders will start paying attention.

Crocs, Inc. (NASDAQ:CROX) produces soft, lightweight, non-marking, slip- and odor-resistant shoes made of closed-cell resin material. Crocs manufactures a wide assortment of styles for men, women, boys and girls and markets them to retail chains.

Crocs' current stock range is defined by current calculated support defined at $12.60 and by the resistance level at $14.08, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Crocs' 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 $14.08 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.