Scientific instrument Bruker (BRKR) has had a strong run in 2011 -- shares have already rallied 21% since the first trading day in January, and even more over the past six months. That upward trajectory has locked shares of BRKR in a "channel up," a channel that's banded by trend line support and resistance levels.
Essentially, a channel up gives traders the tool to anticipate price action in this stock -- price action is much more likely to bounce between the support and resistance trend lines than it is to move outside the channel. And for investors, buying at trend line support provides an ideal entry point for shares. With BRKR nearing that support level right now, going long on a bounce higher could be a solid move.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV