For today's chart we've chosen to take a look at Comerica Incorporated
) because it is trading near the combined resistance of its 50-day exponential moving average
and a descending trendline
. As you can see from the chart below, the bulls have failed to push the price above the moving average on several occasions and it will be interesting to see if this will be the case again. The series of lower highs is a technical indication of a downward trend and we believe that bullish traders will not want to enter this stock unless the price is able to move above $43. We've also noticed that the volume has started to increase over the past few weeks and we'll watch to see how the added interest will influence the stock. For now it is probably best to maintain a bearish outlook on this stock and to protect any positions with a stop-loss above the moving average.