IHS Markit (NYSE:INFO) has been trading in a channel for the past month. $117 has acted as support, while $127 has been the resistance. Yesterday, the stock price broke down and hovered around the $116 levels.
Yesterday, IHS Markit came out with their third-quarter earnings results. They exceeded Wall Street's earnings expectations.
However, the intraday price reaction was negative from the open, falling from $122 to $115, where a weak bounce made sure it closed at $116.
Today we could expect a rise towards its previous trading range, breaking the resistance at $117 and moving towards the $119 level.
If it fails to hold above the current price range of $116, it will likely fall below the $115 support level.