DENTSPLY International Inc. (XRAY) has been trending sideways for a few months. The stock has established a consolidation pattern with support at 29.50 and resistance at 32.50. Recently, XRAY pulled back to consolidation support and is now bouncing off the support level.

At the moment there is solid upside momentum in tact, with volume confirming the upside action. A bullish MACD crossover is taking place, providing further indication for continued bullish activity. When XRAY bounces off this support level, it tends to continue higher until reaching consolidation resistance at 32.50.



Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.