Dresser-Rand Group Inc. (NYSE: DRC)

Dresser-Rand Group Inc., together with its subsidiaries, engages in the design, manufacture, sale, and service of engineered rotating equipment solutions to the oil, gas, chemical, petrochemical, process, power generation, military, and other industries worldwide. It operates in two segments: New Units, and Aftermarket Parts and Services. The New Units segment offers engineered turbo and reciprocating compression equipment and steam turbines; power turbines; special-purpose gas turbines; hot gas expanders; gas and diesel engines; trip, trip throttle, and non-return valves; and magnetic bearings and control systems. This segment also provides engineering, manufacturing, packaging, testing, sales, and administrative support services. The Aftermarket Parts and Services segment offers a range of aftermarket parts and services.
To review Dresser’s stock, please take a look at the 1-year chart of DRC (Dresser-Rand Group, Inc.) below with my added notations:

DRC has been trading sideways for the last 3 months. Over that period of time the stock has formed a clear resistance level at $60 (blue), which was also prior support. In addition, the stock has also created a strong level of support at $56 (green) that has actually been support off and on throughout most of the entire year. At some point the stock will have to break one of the two levels the rectangle pattern has created.

The Tale of the Tape: DRC has clear levels of support ($56) and resistance ($60). The possible long positions on the stock would be either on a pullback to $56, or on a breakout above $60. The ideal short opportunities would be on either a break below $56 or on a rally back up to $60.
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