For today's chart we've chosen to take a look at Harris Corp (NYSE:HRS) because it is testing an interesting level of short-term resistance. As you can see from the chart below, the $52.60 level has prevented the price from moving higher in the past and many traders will watch to see if this will happen again. Breakout traders will watch for a move above the trendline and will want to see a large increase in volume to confirm that the momentum is on the side of the bulls. Any type of indecision candlestick, such as a doji star, that happens to appear on the chart near the current price will be used to suggest that the resistance is stronger than many expect and will likely result in traders watching for a move back toward the previous swing low.

You May Also Like

Related Analysis
  1. Investing

    eBay Vs. Amazon Business Model

  2. Stock Analysis

    3 Things Fifth Street Management Wants You to Know

  3. Stock Analysis

    3 Things Apollo Investment Wants You to Know

  4. Stock Analysis

    3 Things Qlik Management Wants You to Know

  5. Stock Analysis

    3 Things to Watch When Seadrill Reports

Trading Center