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Dupont Closing in to Resistance

Shares of EI DuPont de Nemours & Co. (NYSE:DD) are trading very close to calculated resistance at $37.85 with the current price action closing at just $36.86 placing the stock near levels that make it difficult to buy.

E. I. Du Pont de Nemours and Company is a global chemical and life sciences company, with businesses that include agriculture and industrial biotechnology, chemistry, biology, materials science and manufacturing. The Company operates globally and offers a wide range of products and services for markets including agriculture and food, building and construction, electronics and communications. Dupont, with 60,000 employees worlwide, was founded in 1802 and its headquartered in Wilmington, DE

Dupont's current stock range is defined by current calculated support defined at $31.88 and by the resistance level at $37.85, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for Dupont, as the stock is well above support, however, as the stock pulls back towards $31.88 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $37.85 then traders will get an opportunity to enter Dupont stock by establishing a position as the stock moves to a higher range.

Citigroup Way Over-Extended?

Shares of Citigroup Inc. (NYSE:C) closed at $3.97 on Friday, well above its calculated resistance at $3.47, which was calculated from a peak and throughs algorithm, making traders worry about a possible pull back in the stock price.

Citigroup Inc. (NYSE:C) is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world. Its services include investment banking, retail brokerage, corporate banking, and cash management products and services.

Citigroup's stock broke out of its defined range that had support at $3.11 and resistance at $3.47. Now the stock is working on developing a new trading range, which should be defined by the high setup after this breakout and its probable support, which could be its previous resistance level $3.47.

From a technical perspective traders should wait to establish a position in Citigroup until a base in the stock develops that can provide good reference points to the upside and most importantly to the downside, for traders have a risk reference point before entering into a position on Citigroup stock.

Is Dupont Breaking Out?

Shares of EI DuPont de Nemours & Co. (NYSE:DD) closed the trading session at $34.97 just above calculated resistance at $34.765 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Dupont's stock was trading in a well defined range with support at $31.88 and resistance at $34.765, given that this range was broken traders will be closely monitoring the stock?s price action for clues of direction.

From a technical perspective it can be expected that previous resistance becomes support, as the new range gets defined, however, given that Dupont's stock is still near the broken resistance level, traders will be focusing on $34.765 to see if the stock holds the breakout without rolling over.

Entry Levels for Pulte

Shares of Pulte Homes, Inc. (NYSE:PHM) are trading very close to calculated support at $10.52 with current price action closing at just $10.7 places the stock price near levels where traders will start paying attention.

Pulte Homes, Inc. (NYSE:PHM) constructs and develop residential and active adult communities. The Company also provides mortgage financing, title insurance, and other services to home buyers. Pulte has operations in various markets across the United States and Puerto Rico.

Pulte's current stock range is defined by current calculated support defined at $10.52 and by the resistance level at $11.82, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Pulte's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $11.82 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.

The Gap's Failed Move Above Resistance

Shares of Gap, Inc. (NYSE:GPS) traded very close to calculated resistance at $20 with on Thursday closing at just $19.99 placing the stock near levels that make it difficult to buy. On Friday the stock retreated 0.70% to $19.85 after a failed breakout attempt above $20.

The Gap, Inc. (NYSE:GPS) is an international specialty retailer operating retail and outlet stores. The Company sells casual apparel, accessories and personal care products for men, women, and children, through retail stores like The Gap and Banana Republic.

Gap's current stock range is defined by current calculated support defined at $18.64 and by the resistance level at $20, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for Gap, as the stock is well above support, however, as the stock pulls back towards $18.64 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $20 then traders will get an opportunity to enter Gap stock by establishing a position as the stock moves to a higher range.

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