Pall near Key Resistance Area

Published on Friday, 13 January 2012 22:56 Written by TradersHuddle Staff

New York, January 13th (TradersHuddle.com) - Shares of Pall Corporation (NYSE:PLL) are trading very close to calculated resistance at $59.97 with the current price action closing at just $59.86 placing the stock near levels that make it difficult to buy.

Pall Corporation (NYSE:PLL) designs, and manufactures proprietary filter media, and other fluid clarification and separation equipment for the removal of solid, liquid and gaseous contaminants from a wide variety of liquids and gases.

Pall's current stock range is defined by current calculated support defined at $54.93 and by the resistance level at $59.97, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for Pall, as the stock is well above support, however, as the stock pulls back towards $54.93 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $59.97 then traders will get an opportunity to enter Pall stock by establishing a position as the stock moves to a higher range.