For today's chart we've chosen to take a look at Sears Holding Corporation
) because it has fallen below an influential level of support
. As you can see from the chart below, the $115 and $127.75 levels acted as barriers to the price action for most of 2005 and 2006. Today's move back into this range suggests that we could see the stock drift toward the next major level of support, which is found near the bottom of the channel
at $115. Technical traders would expect this stock to remain range bound until it breaks through one of the identified trendlines.