| 2016-10-05 13:52:59|
ISCA 13:52 10/05 10/05/16
International Speedway technical notes before earnings
The stock has been trading in volatile fashion between two bounds since March 2015. The low of that range is at the $30 area and the high at the $38 area. At current price the shares are very nearly in the middle of that range. Without a skew in the range to help guide as to which way traders are leaning, the probability of a range break following news drops considerably in likelihood. If the news is negative, a drop to the low end of the range might be possible. Support below current price would be at $32.11 and then at the $30 area. If the news is strongly positive, a move up to the high of the range may be possible. Resistance on the way would be at $35.64 and then at the 52-week high at $37.87.