Trimble Navigation Limited designs and distributes positioning
products and applications enabled by global positioning system (GPS),
optical, laser, and wireless communications technology. The company's
Engineering and Construction segment offers software for optimized route
selection and design; systems to automatically guide and control
construction equipment, such as bulldozers, graders and paving
equipment; systems to monitor, track, and manage assets, equipment, and
workers. Its Field Solutions segment provides guidance and positioning
systems, automated application systems, and information management
solutions to improve crop performance, profitability, and environmental
quality. The company's Mobile Solutions segment offers vehicle
solutions, such as GPS receivers, business logic, sensor interfaces, and
wireless modems; mobile worker solutions to automate service technician
work in the field. Its Advanced Devices segment supplies global
navigation satellite system modules (GNSS), licensing and complementary
technologies, and GNSS-integrated sub-system solutions; GPS receivers
and embedded modules for aircraft navigation and timing applications and
information for outdoor recreational activities.
Before discussing potential trading opportunities, please take a look
at the 1-year chart of TRMB (Trimble Navigation Limited) below with my
added notations:
TRMB had been moving higher since July, but then peaked back in
January. Over the last (8) months the stock had formed a level of
support at $26 (teal). You can also see how the stock seemed to be
hinting of a potential breakdown being that it had been trending lower
(blue) in the face of a rising stock market. Well, last week the stock
did break that $26 support and should be moving lower overall from
there.
The Tale of the Tape: TRMB has broken its support at
$26 and the stock has started moving lower. A short position could be
entered on any rallies back up near $26 with a stop placed above that
level. A break back above $26 would negate the forecast for a move
lower.
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