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
About the author:
Tom Bowley is the Chief Market Strategist of EarningsBeats.com, a company providing a research and educational platform for both investment professionals and individual investors. Tom writes a comprehensive Daily Market Report (DMR), providing guidance to EB.com members every day that the stock market is open. Tom has contributed technical expertise here at StockCharts.com since 2006 and has a fundamental background in public accounting as well, blending a unique skill set to approach the U.S. stock market.
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