Is Teradata Breaking Out?

Published on Tuesday, 27 July 2010 18:28 Written by Danny Miller

New York, July 27th (TradersHuddle.com) - Shares of Teradata Corporation (NYSE:TDC) closed the trading session at $33.27 just above calculated resistance at $32.12 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

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 stock was trading in a well defined range with support at $29.37 and resistance at $32.12, 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 resistance becomes support, as the new range gets defined, however, given that Teradata's stock is still near the broken resistance level, traders will be focusing on $32.12 to see if the stock holds the breakout without rolling over.