Jabil Circuit Moving Away from Resistance; Level 3 Near Resistance Level

New York, January 5th (TradersHuddle.com) – After stocks gained following encouraging jobs figures, which offset euro zone debt jitters, we identified the following trading ideas. Shares of Jabil Circuit, Inc. JBL closed the trading session at $20.76 just above calculated resistance at $20.20 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers. Jabil Circuit, Inc. JBL is an electronic manufacturing services provider for international electronics companies in the communications, personal computer, peripheral, consumer, and automotive markets. Jabil's stock was trading in a well-defined range with support at $18.79 and resistance at $20.20; given that this range was broken traders will be closely monitoring the stock. Another trading idea is Level 3 Communications, Inc. LVLT. The provider of fiber-based communications services ended the session at $17.72, very near its calculated resistance at $17.73. Level 3's price action is just below the key resistance level, which make it difficult to buy. Traders don't have a clear entry point for Level 3, as the stock is well above support, however, as the stock pulls back towards $16.51 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $17.73 then traders will get an opportunity to enter Level 3 stock by establishing a position as the stock moves to a higher range. Level 3 Communications, Inc. LVLT provides fiber-based telecommunications and information services, including local, long distance, and data transmission. The Company also provides other enhanced communications and Internet services.