For today's chart we've chosen to take a look at Toll Brothers Inc
) because it is nearing an influencial level of resistance
. As you can see from the chart below, the $24 mark has prevented the bulls from sending the price higher over the past few months and there i0s little reason to expect this story to change. We've also noticed that the stock is testing its 200-day exponential moving average
, which has prevented a move higher since early 2007. We'll keep a bearish outlook on this stock until the price closes above the horizontal trendline ($24).