Dun & Bradstreet near Resistance

Published on Wednesday, 23 June 2010 08:20 Written by TradersHuddle Staff

New York, June 23rd (TradersHuddle.com) - Shares of Dun & Bradstreet Corporation (NYSE:DNB) are trading very close to calculated resistance at $73.87 with the current price action closing at just $71.76 placing the stock near levels that make it difficult to buy.

The Dun & Bradstreet Corporation (NYSE:DNB) provides business information and technology solutions. The Company's customers use these solutions in order to reduce credit risk, find profitable business partners, manage business relationships and collect cash and receivables. Dun & Bradstreet's database contains information on public and private companies around the world.

Dun & Bradstreet's current stock range is defined by current calculated support defined at $69.35 and by the resistance level at $73.87, 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 Dun & Bradstreet, as the stock is well above support, however, as the stock pulls back towards $69.35 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 $73.87 then traders will get an opportunity to enter Dun & Bradstreet stock by establishing a position as the stock moves to a higher range.