Bears Appeared - Collective Brands

Published on Monday, 05 December 2011 04:48 Written by Christian Paolinetti

New York, December 5th (TradersHuddle.com) - Shares of Collective Brands, Inc. (NYSE:PSS) ended the trading session lower by $0.19 or -1.37% from its previous close. Collective Brands' price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Collective Brands, Inc. (NYSE:PSS) retails footwear and related accessories. The Company, through its various retail stores, offers a wide range of branded footwear products. Some of its brands include Stride Rite, Sperry Top-Sider, Saucony, and Keds.

Collective Brands' current stock range is defined by calculated support defined at $11.38 and by the resistance level at $14.20, which should be used by traders planning their trades.

Traders wanting to establish a position in Collective Brands stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Collective 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: