Don't Ignore This Chart!

Cerner Corp Tests Key Price Support

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It's always nice to go back to the basics of technical analysis.  Broken resistance becomes support.  That's currently the case with Cerner Corp (CERN) where the stock recently cleared price resistance just above 65.00 and, with recent profit taking, we've seen a return to that price support level.  There's also a nice 2017 uptrend in play that shows multiple touches and CERN is slightly above that trendline support as well.  Here's the chart:

Should 65 price and trendline support fail to hold, the next key level for CERN would be gap support just above 62.

Happy trading!

Tom

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Tom Bowley
About the author: co-founded Invested Central in 2004 and served as the site's Chief Market Strategist for more than 10 years. Invested Central provides stock market education and guidance for those interested in making their own financial decisions. During his tenure at Invested Central, Tom co-hosted Market Open LIVE, a national radio broadcast that covered many of the largest markets across the U.S. In addition, he has spoken at various conferences throughout the United States and Canada and has taught thousands of traders across the globe how to trade equities more wisely with an emphasis on managing risk and intermarket relationships. Learn More
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