Trading Idea - Key levels for Protective Life

Published on Friday, 27 August 2010 06:20 Written by Christopher Lynn

New York, August 27th (TradersHuddle.com) - Shares of Protective Life Corporation (NYSE:PL) are trading very close to calculated support at $18.18 with current price action closing at just $18.52 places the stock price near levels where traders will start paying attention.

Protective Life Corporation (NYSE:PL) provides financial services through the production, distribution, and administration of insurance and investment products. The Company markets individual life insurance, credit life and disability insurance, guaranteed investment contracts, guaranteed funding agreements, and annuities.

Protective Life's current stock range is defined by current calculated support defined at $18.18 and by the resistance level at $22.75, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Protective Life'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 $22.75 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.