Analyzing stock charts now for more than 20 years one becomes accustomed to certain tendencies stock may exhibit. There are a myriad of techniques that investors use and tonight I would like to look at the round numbers. Below we will look at some names that found either support or resistance at the round numbers. Some round number have more significance than others, for instance the 90 number is important as stocks that trade through it most often go on to reach par.
DST is an IT play that trades a bit on the light side but is a good illustration about the par number being relevant. It reported earnings on 7/23 and plummeted 13.9%, its first drop in its last four releases. On Tuesday it recorded a bullish hammer right off the 100 number and is looking at a test of its 200 day SMA just above here.