Bears Appeared on NYSE Euronext

Published on Friday, 22 June 2012 04:30 Written by TradersHuddle Wire

New York, June 22nd (TradersHuddle.com) - Shares of NYSE Euronext (NYSE:NYX) ended the trading session lower by $0.36 or -1.43% from its previous close. NYSE Euronext's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

NYSE Euronext (NYSE:NYX) operates an international stock exchange. The Company operates a marketplace for equities and derivatives in Belgium, France, the Netherlands and Portugal, derivatives in the United Kingdom, and equities and other securities in the United States.

NYSE Euronext's current stock range is determined by calculated support defined at $23.77 and by the resistance level at $25.20, which should be used by traders planning their next move.

If traders want to establish a position in NYSE Euronext, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor NYSE Euronext for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: