Nordson Corporation (NasdaqGS: NDSN)

Nordson Corporation engineers, manufactures, and markets products and systems for precision dispensing, testing and inspection, fluid management, surface treatment, and curing. Its Adhesive Dispensing Systems segment provides equipment to apply adhesives, lotions, liquids, and fibers to disposable products. The company's Advanced Technology Systems segment offers automated gas plasma treatment systems to clean and condition surfaces for semiconductor, medical, and printed circuit board industries; controlled manual and automated systems to apply materials in customer processes requiring precision and material conservation. Its Industrial Coating Systems segment provides automated and manual dispensing systems to apply materials in automotive, heavy truck, and recreational vehicle manufacturing industries. It also offers ultraviolet equipment to cure and dry operations for specialty coatings, semiconductor materials, and paints. The company also serves appliance, construction, electronics assembly, furniture, and LED industries. It markets its products in the United States and internationally through direct sales force, distributors, and sales representatives. The company was founded in 1935 and is headquartered in Westlake, Ohio.

To review Nordson's stock, please take a look at the 1-year chart of NDSN (Nordson Corporation) below with my added notations:

First, NDSN has formed a key level of support at $48 (navy) over the last (2) months. That same $48 support was also an important resistance towards the end of last year. Next, the stock has been forming a down trending resistance level (red) that has now been tested (3) different times. These two levels combined have NDSN stuck within what could be considered a Descending Triangle, which will eventually have to break one way or another.

The Tale of the Tape: NDSN is currently trading between its down trending resistance and $48 support. A long trade could be made on a pull back to the $48 support or on a break above the down trending resistance with a stop placed below the entry point. A short trade could be made on NDSN if the stock breaks below the $48 support level. In that case, a stop should be placed above the level of entry.