Trading Idea - Key levels for Diebold

Published on Friday, 27 August 2010 06:12 Written by TradersHuddle Staff

New York, August 27th (TradersHuddle.com) - Shares of Diebold, Incorporated (NYSE:DBD) are trading very close to calculated support at $25.99 with current price action closing at just $26.32 places the stock price near levels where traders will start paying attention.

Diebold, Incorporated (NYSE:DBD) provides integrated self-service delivery systems and services on a worldwide basis. The Company serves the financial, security, election systems, retail, card systems, and pharmacy industries. Diebold provides products such as automated teller machines, alarm monitoring systems, monitoring software, card-based systems, and election systems.

Diebold's current stock range is defined by current calculated support defined at $25.99 and by the resistance level at $30.82, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Diebold's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $30.82 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.