Tempur Sealy International Inc (NYSE: TPX)

Tempur Sealy International, Inc. develops, manufactures, markets, and distributes bedding products in North America and internationally. The company provides mattresses, foundations, adjustable bases, and other products, including pillows and other accessories. It offers its products under the TEMPUR, Tempur-Pedic, Sealy, Sealy Posturepedic, Optimum, and Stearns & Foster brand names. The company sells its products through furniture and bedding retailers, department stores, specialty retailers, and warehouse clubs; e-commerce platforms, company-owned stores, and call centers; and other third party distributors, and hospitality and healthcare customers.
Take a look at the 1-year chart of Tempur (NYSE: TPX) below with my added notations:

TPX has been slowly trending lower since July. During the most recent 4 months the stock has formed an important trend line of resistance (blue). Always remember, any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its importance. TPX obviously has an important trendline of resistance, which currently sits just above $55.

The Tale of the Tape: TPX is currently stuck under a down trending resistance. A break above that 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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