Tupperware Brands Bearish Signs

Published on Wednesday, 28 July 2010 17:45 Written by Christian Paolinetti

New York, July 28th (TradersHuddle.com) - Shares of Tupperware Brands Corporation (NYSE:TUP) ended the trading session lower by $0.65 or -1.62% from its previous close. Tupperware's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Tupperware Brands Corporation (NYSE:TUP) is a multinational direct selling company, which sell products across multiple brands and categories through an independent sales force. Its product brands and categories include food preparation, storage, and serving solutions for the kitchen and home. Tupperware Brands Corp also sells beauty and personal care products.

Tupperware's current stock range is defined by calculated support defined at $36.12 and by the resistance level at $43.96, which should be used by traders planning their trades.

Traders wanting to establish a position in Tupperware Brands stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Tupperware Brands shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: