Diebold Bounces Off Support...Again

Tom Bowley
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com

Computer hardware ($DJUSCR) led the technology sector to outsized gains on Thursday and Diebold (DBD) benefited by bouncing off price support.  The 29.50-30.00 area has served as excellent support in 2015.  Consider the trading range to be 29.50-32.50 in the near-term until either support or resistance breaks.  Volume turned up today on the renewed strength and DBD's MACD is just now crossing its trigger line.  The MACD histogram has also been moving higher suggesting that the selling momentum has begun to slow.  Here's the chart:

Happy trading!

Tom

Tom Bowley
About The Author:

Tom is the Chief Market Strategist at EarningsBeats.com, a research and education platform for both financial professionals and individual investors. His comprehensive Daily Market Report provides insightful guidance to EB members every trading day. Learn More 

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