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Nearest Resistance: $25
Nearest Support: $22
Things aren't so simple for shares of
Kronos Worldwide(KRO), a mid-cap firm that manufactures titanium dioxide pigments that are used to color everything from paint to food. Kronos announced earnings of 74 cents per share for the quarter, more than doubling last year's fourth-quarter performance. But investors didn't quite know how to react, bidding shares higher only to turn around and sell off.
While today's price action is a bit more than most, Kronos has been forming a rounding bottom for the last few months, a setup that broke out above then-resistance at $22 before consolidating above that level more recently. With shares still squarely above that newfound $22 support level, a push through $25 resistance looks more palatable for market participants.
I'd recommend waiting for that to happen before taking a position in KRO. Kronos shows up on a list of
10 Dividend Stocks to Keep You Safe Into 2012.