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Tickers in this Article: STT
New York, October 4th (TradersHuddle.com) - State Street Corporation (NYSE:STT) closed the trading day at $41.94, near its 50 day and 200 day moving averages set at $41.83 and $42.47 respectively. State Street's price action placed the stock above the 50 day moving average but below its 200 day moving average, providing a nice trading setup with clear reference points.State Street Corporation (NYSE:STT), through its subsidiaries, provides various products and services for the institutional investors worldwide. The company provides securities administration and investment management services. The company serves mutual funds, collective investment funds, corporate and public retirement plans, insurance companies, foundations, endowments, and investment managers.

State Street seems to be setting up for a tight range between the 50 day moving average as support and the 200 day moving average serving as resistance.

A tiered approach appears to be the best way to maximize possible movements in the stock, as traders could establish a small position in State Street and wait for the stock to break out above the 200 day moving average at $42.47. Then they could add to the position as momentum builds with the breakout. On the other hand, if support being referenced at the 50 day moving average set at $41.83 breaks, it could signal further downside for State Street in the horizon.

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