Is NCR Trade Over?
Published on Wednesday, 11 July 2012 04:33 Written by TradersHuddle Wire
New York, July 11th (TradersHuddle.com) - Shares of NCR Corporation (NYSE:NCR) ended the trading session lower by $0.38 or -1.67% from its previous close. NCR's price action formed what is considered to be a bearish engulfing candlestick chart pattern.
NCR Corporation (NYSE:NCR) manufactures financial transaction machines and other products. The Company manufactures automated teller machines (ATM), self-checkout and self-service kiosks, point-of-sale workstations and scanners; manufactures printer consumable products; and manages networks and servers for ATMs and kiosks.
NCR's current stock range is determined by calculated support defined at $20.44 and by the resistance level at $23.37, which should be used by traders planning their next move.
If traders want to establish a position in NCR, 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 NCR for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:
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