Jarden: Traders Look for a Bottom

jah New York, April 10th (TradersHuddle.com) - Shares of Jarden Corporation (NYSE:JAH) ended the trading session lower by $0.39 or -0.97% from its previous close. Jarden's price action in the session formed what is considered to be a Hammer, where bears drove prices lower intraday. However, the strong finish indicates that bulls regained control, forming a trend reversal.

Jarden Corporation (NYSE:JAH) provides a broad range of consumer products. Its product segments include Outdoor Solutions, Consumer Solutions and Branded Consumables. Jarden sells products through a variety of brands, like First Alert, Coleman, Oster, Sunbeam, Food Saver, and Marmot using several distribution channels, including club, department store, drug, grocery, mass merchant, sporting goods and specialty retailers, as well as direct to consumers.

Jarden's stock has been trading in a well defined range with calculated support at $33.30 and resistance at $39.93. This range can be used by traders to plan their next moves.

Traders wanting to establish a position in Jarden or traders that are already holding the stock can use the hammer formation to their advantage, since the pattern signal a potential bullish trend reversal.

The Hammer is an important candlestick pattern, as it can mark bottoms and support levels. Further buying pressure, and preferably on expanding volume, is needed before acting, as heavy volume will serve to confirm the validity of the reversal.

In the case of Jarden, traders who want to add to their positions or start a new position, need to watch for confirmation of the reversal. Below a Hammer illustration:

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