Near Key Levels - Willis Group

Published on Thursday, 02 September 2010 07:24 Written by Danny Miller

New York, September 2nd (TradersHuddle.com) - Shares of Willis Group Holdings PLC (NYSE:WSH) closed the trading session at $29.82 near its 50 day and 200 day moving averages currently set at $30.74 and $29.97 respectively. Willis' price action is below these important levels, which makes the stock difficult to buy, as there will certainly be resistance as it approaches these important moving averages.

Willis Group Holdings PLC (NYSE:WSH) is an insurance broker. The Company offers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world.

Latest price action range, defined by a peaks and troughs algorithm placed calculated support at $28.91 and calculated resistance at $32.15. These levels should be watched by traders, as they provide insight into the latest price dynamics in Willis Group shares.

Traders should evaluate their options if they want to establish a position on Willis Group given the heavy resistance expected near the 50 and 200 day moving averages. A trade might be evident as the stock manages to break these moving averages, however until the break materializes buying the stock is nothing different than flipping a coin. Other levels that traders will closely evaluate are the ones defined by the peak and troughs algorithm that provides great price level reference points.