FLIR Systems Dipping Below Support

New York, February 9th ( - Shares of FLIR Systems, Inc. (NASDAQ:FLIR) closed the trading session at $25.50 below calculated support at $25.54 breaking current long setups, raising concerns by the bulls, as this move might give the bears the upper hand.

FLIR Systems, Inc. (NASDAQ:FLIR) designs, manufactures, and markets thermal imaging and broadcast camera systems for a variety of applications in the commercial and government markets.

FLIR's stock was trading in a well defined range with support at $25.54 and resistance at $27.06; given that this range was broken traders will be closely monitoring the stock's price action for clues of direction.

From a technical perspective it can be expected that previous support becomes resistance, as the new range gets defined, however, given that FLIR's stock is still near the broken support, traders will be focusing on $25.54 to see if the stock can bounce back and return to its previous range.

Traders wanting to establish a short position in FLIR Systems can do so if the stock breaks the intraday low, or if the stock bounces back and selling materializes again at previous support of $25.54. For traders wanting to establish a long position, wait for price action to take the stock back to calculated support, which will provide a best entry point to build the position.

Related Partner Headlines

    You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!

    TradersHuddle Search

    Stock Search:

    Site Search:


    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    o Dow Jones 17,086.63 ▼26.91 (-0.16%)
    o S&P 500 1,987.01 ▲3.48 (0.18%)
    o NASDAQ 4,473.70 ▲17.68 (0.40%)

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,086.63 Trade time:4:31PM EDT Value change:▼26.91 (-0.16%)

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:1,987.01 Trade time:4:31PM EDT Value change:▲3.48 (0.18%)


    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,473.70 Trade time:5:15PM EDT Value change:▲17.68 (0.40%)

    In The Wires

    Copyright © 2013 All Rights Reserved.