TriNet Group, Inc. provides human resources solutions for small and medium-sized businesses in the United States and Canada. The company offers payroll processing, human capital consulting, and employment law compliance services, as well as health insurance, retirement plans, and workers compensation insurance services. It serves clients in various industries, including technology, life sciences, property management, professional services, banking and financial services, retail, manufacturing, and hospitality services, as well as non-profit entities. The company markets its solutions through its sales representatives, sales management, and sales operations and support personnel.
Take a look at the 1-year chart of TriNet (NYSE: TNET) below with my added notations:
TNET had been declining insistently since its March peak, but more
recently the stock has moved into in a sideways consolidation. In
addition, over the past two months the stock has created a key
resistance level to watch at $20 (red). As you can see, TNET has already
tested that level twice. A break above that $20 level should lead to
higher prices for the stock.
The Tale of the Tape: TNET has a key level of
resistance at $20. A long trade could be entered on a break through that
level. However, if you are bearish on the stock, a short trade could be
made on any rallies up to $20.