Technical Preview: IHS Markit testing near key resistance before results

The shares are pressing up against resistance at the $48 area ahead of earnings news, marking a third breakout attempt in less than a year. If the earnings news and outlook are bullish, a breakout is likely from current levels. At the current price of $47.88 at time of writing, the only established resistance level is at $48.53. A move above that high would potentially lead to a run to the top of the long-term bullish price channel at the $54 area. That channel has been in place since March 2016. If the news is bearish, a breakdown below the low of the channel at the $45 area would snap the uptrend, which would be bearish for future price. Next support levels to watch as potential downside objectives would be at $44.10, $42. 61, $41.95, and $40.88.