Close to the 50 Day - Moody's

Published on Thursday, 19 August 2010 21:04 Written by Christian Paolinetti

New York, August 19th (TradersHuddle.com) - Shares of Moody's Corporation (NYSE:MCO) closed the trading day at $22.02 close to its 50 day moving average currently set at $21.88. Moody's price action is just above this important support level translating into a trading opportunity.

Moody's Corporation (NYSE:MCO) is a credit rating, research, and risk analysis firm. The Company provides credit ratings and related research, data and analytical tools, quantitative credit risk measures, risk scoring software, and credit portfolio management solutions and securities pricing software and valuation models.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $21.75 and calculated resistance at $24.12. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on Moody's will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.