For today's chart we've chosen to take a look at GENZ because the company is set to release its quarterly earnings tomorrow. As you can see from the chart below, the ascending trendline has become an area of resistance since the price fell below it in mid April. Also notice how the price action has trended sideways since late July. Tomorrow's earnings may be the catalyst that is need to send the price of GENZ beyond the resistance of $70, or below the support near $64. A break out of this short-term channel is what many traders will use to signal the longer-term direction of the company's stock price.
Free Annual Reports