Kirby Corp

For today's chart we've chosen to take a look at Kirby Corp. (NYSE:KEX) because it is trading within an ascending channel pattern. As you can see from the chart below, the price has been trapped between the two trendlines since October 2006 and the recent bounce off the resistance is suggesting that we could see a short-term move lower. The failed break above the $41.50 level will be used by technical traders to confirm the strength of the nearby resistance and despite the short-term pullback, most traders will maintain a bullish outlook on this stock until the bears send the price below $37.