Above Resistance - NCR

Published on Thursday, 02 September 2010 08:40 Written by TradersHuddle Staff

New York, September 2nd (TradersHuddle.com) - Shares of NCR Corporation (NYSE:NCR) closed the trading session at $13.33 just above calculated resistance at $13.18 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

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 was trading in a well defined range with support at $12.15 and resistance at $13.18, 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 NCR's stock is still near the broken resistance level, traders will be focusing on $13.18 to see if the stock holds the breakout without rolling over.