NCR Is Near a Key Resistance Area
Published on Monday, 12 March 2012 06:52 Written by TradersHuddle Wire
New York, March 12th (TradersHuddle.com) - Shares of NCR Corporation (NYSE:NCR) are trading very close to calculated resistance at $22.12 with the price action ending the session at just $21.41 near levels that make it difficult to buy or start a position.
NCR Corporation (NYSE:NCR) manufactures financial transaction machines and other products. The Company manufactures automated teller machines (ATM), self-checkout and self-service kiosks, point-of-sale workstations and scanners; manufactures printer consumable products; and manages networks and servers for ATMs and kiosks.
NCR's stock range is defined by its calculated support defined at $20.30 and by the resistance level at $22.12, the stock is clearly over-extended from support, making it difficult to establish fresh longs.
Traders don't have a clear entry point for NCR, as the stock is well above support, however, as the stock pulls back towards $20.30 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 $22.12 then traders will get an opportunity to enter the stock it moves to a higher range.