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.
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