Don't Ignore This Chart!

KLA-Tencor Holds the Gap $KLAC

 | 

KLA-Tencor (KLA) has an island reversal of sorts working the last three weeks. Notice how the stock gapped down in mid June and then back up in late June. Since gapping higher last week, the stock consolidated the last four days. A break above consolidation resistance would signal a continuation of last week’s gap-surge.

120705klac
Click this image for a live chart.

Announcement from the Author

{{ announcement.content }}

Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus