Orbital Sciences Corp

AAA

For today's chart we've chosen to take a look at Orbital Sciences Corp (NYSE:ORB) because it is trading near an area of short-term support. As you can see from the chart below, ORB recently broke out of an ascending triangle pattern and is in the process of testing the $20 level. A move back toward a fresh level of support, like the one shown on the chart, is commonly referred to as a throwback and it is often used by traders to confirm the validity of a technical chart pattern.

We've also added the Parabolic SAR indicator because it has triggered a buy sign. The reversal of the dots from above the price to below is used as a sign of increased upward momentum and we believe traders will start to step back in and push the price toward the swing high of $22. We'll maintain a bullish outlook on this stock until the price falls below $20.

comments powered by Disqus
Related Analysis
  1. ConAgra Now Getting Almost Full Benefit Of The Doubt
    Stock Analysis

    ConAgra Now Getting Almost Full Benefit Of The Doubt

  2. Stocks And Their RSIs To Watch (DRC, GOLD, GPN, IOC)
    Stock Analysis

    Stocks And Their RSIs To Watch (DRC, GOLD, GPN, IOC)

  3. Oversold Stocks In Uptrends
    Stock Analysis

    Oversold Stocks In Uptrends

  4. 4 Stocks Sitting On Support
    Stock Analysis

    4 Stocks Sitting On Support

  5. Potential Short Squeeze Candidates
    Stock Analysis

    Potential Short Squeeze Candidates

Trading Center