Don't Ignore This Chart!

Diebold Bounces Off Support...Again

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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: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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