Teradata near Resistance

Published on Monday, 06 February 2012 19:16 Written by Danny Miller

New York, February 6th (TradersHuddle.com) - Shares of Teradata Corporation (NYSE:TDC) are trading very close to calculated resistance at $57.88 with the current price action closing at just $56.87 placing the stock near levels that make it difficult to buy.

Teradata Corporation (NYSE:TDC) provides data warehousing solutions, including enterprise analytic technologies and services. The data warehousing solutions are comprised of software, hardware, and related business consulting and support services.

Teradata's current stock range is defined by current calculated support defined at $47.33 and by the resistance level at $57.88, 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 Teradata, as the stock is well above support, however, as the stock pulls back towards $47.33 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 $57.88 then traders will get an opportunity to enter Teradata stock by establishing a position as the stock moves to a higher range.