Cerner Bearish Signs

Published on Friday, 10 August 2012 04:39 Written by TradersHuddle Wire

New York, August 10th (TradersHuddle.com) - Shares of Cerner Corporation (NASDAQ:CERN) ended the trading session lower by $0.65 or -0.9% from its previous close. Cerner's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Cerner Corporation (NASDAQ:CERN) is a worldwide supplier of healthcare solutions and services. Its solutions are designed to optimize clinical and financial outcomes for healthcare organizations ranging from single-doctor practices, to healthcare systems for the pharmaceutical and medical device industries, and for the healthcare commerce system.

Cerner's current stock range is determined by calculated support defined at $71.35 and by the resistance level at $78.53, which should be used by traders planning their next move.

If traders want to establish a position in Cerner, 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 Cerner for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: