Waters Corporation (NYSE: WAT)

Waters Corporation, an analytical instrument manufacturer, designs, manufactures, sells, and services high performance liquid chromatography, ultra performance liquid chromatography, and mass spectrometry technology systems and support products primarily in the United States, Europe, Japan, and Asia. Its products are used in various industries to detect, identify, monitor, and measure the chemical, physical, and biological composition of materials, as well as to purify a range of compounds; and in drug discovery and development, including clinical trial testing, the analysis of proteins in disease processes, food safety analysis, and environmental testing. The company also offers thermal analysis, rheometry, and calorimetry instruments that are used in predicting the suitability of fine chemicals, polymers, and viscous liquids for various industrial, consumer goods, and healthcare products, as well as for life science research. In addition, it develops and supplies software-based products that interface with its instruments. The company provides its products for pharmaceutical, life science, biochemical, industrial, food, environmental, academic and government customers working in research and development, quality assurance, and other laboratory applications.

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

Over the last 3-4 months WAT has created a couple of short-term price levels to watch. First, WAT has formed a clear resistance level at $86 (brown). In addition, the stock has also been forming an uptrending support level (blue). These two levels combined have WAT stuck within a common chart pattern known as an ascending triangle that will eventually have to break one way or another.