Is Hologic Trade Over?
Published on Thursday, 16 February 2012 04:51 Written by TradersHuddle Wire
New York, February 16th (TradersHuddle.com) - Shares of Hologic, Inc. (NASDAQ:HOLX) ended the trading session lower by $0.04 or -0.17% from its previous close. Hologic's price action formed what is considered to be a bearish engulfing candlestick chart pattern.
Hologic, Inc. (NASDAQ:HOLX) develops, manufactures, and supplies premium diagnostic products, medical imaging systems, and surgical products created specifically to address the healthcare needs of women throughout the world.
Hologic's current stock range is defined by calculated support defined at $16.33 and by the resistance level at $21.05, which should be used by traders planning their trades.
Traders wanting to establish a position in Hologic stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Hologic 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:
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