Park-Ohio Holdings Corp

For today's chart we've chosen to take a look at PKOH because it has been traveling within a sideways trend for the past two years. As you can see from the chart below, the $21.50 has acted as a strong level of resistance and it will be interesting to see how this stock reacts to this nearby barrier. Many bullish traders will watch for a move above $21.50 and use this to signal a potential move toward the 2005 high near $31. Conversely, range-bound traders will watch for a bounce off the resistance and a corrective move back toward the support that is near $13. We'll have to wait a bit longer before we find out whether the bulls or the bears will win this battle.