The Cooper Companies, Inc. operates as a medical device company worldwide. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses and toric and multifocal lenses that correct near and farsightedness, as well as address various complex visual defects, such as astigmatism and presbyopia. It also offers medical devices, diagnostic products, and surgical instruments and accessories for healthcare professionals and institutions to support healthcare delivery to women in hospitals, clinician offices, and fertility clinics. The company markets its products through field sales representatives, independent agents, and distributors
Please take a look at the 1-year chart of COO (The Cooper Companies, Inc.) below with my added notations:
Over the last 6 months COO has created a clear level of resistance at
$135 (blue). During that same period of time the stock has also created
a trendline of support (red) that has been heading lower since August.
If the stock’s pattern holds true, COO should be preparing to drop to
new lows of the pattern.
The Tale of the Tape: COO has a key area of
resistance at $135. A long trade could be made on a break above $135
with a stop placed below that level of entry. However, short traders
might want to look to get into the stock soon in expectation of an
eventual fall back down to the trendline support.
Please share this article