Trimble Navigation Limited (NASDAQ: TRMB)

Trimble Navigation Limited designs and distributes positioning products and applications enabled by global positioning system (GPS), optical, laser, and wireless communications technology. It serves agriculture, architecture, civil engineering, construction, environmental management, government, natural resources, transportation, and utilities industries through dealers, distributors, and authorized representatives worldwide.
Take a look at the 1-year chart of Trimble (Nasdaq: TRMB) below with my added notations:

TRMB has been in a persistent downtrend since April. During that time the stock has also formed an important trend line of resistance (red). Always remember, any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its importance. So, TRMB obviously has an important trendline of resistance, which currently sits near $28.50.

The Tale of the Tape: TRMB is currently stuck under a down trending resistance. A break above resistance should mean higher prices, thus a long trade could be made. Short traders might look to enter a trade at the resistance.
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