Close to the 50 Day - Applied Industrial

Resource from: Applied Industrial Technologies, Inc. Likes:3078

Apr 21,2011

New York, April 20th (TradersHuddle.com) - Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) closed the trading day at $33.34 close to its 50 day moving average currently set at $32.53. Applied Industrial's price action is just above this important support level translating into a trading opportunity. Applied Industrial Technologies, Inc. (NYSE:AIT) distributes bearings and seals, power transmission and fluid power components, hydraulic and pneumatic components, industrial rubber products, linear components, and general maintenance items. The Company also provides customized mechanical, fabricated rubber, and fluid power shop services. Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $32.33 and calculated resistance at $34.66. 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 Applied Industrial 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.

(Applied Industrial Technologies, Inc.)

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