New York, November 23rd (TradersHuddle.com) - OfficeMax Inc. (NYSE:OMX) shares closed the session lower by $0.41 or -2.38% from its previous close. OfficeMax's latest price action developed a short term reversal pattern in the form of a tweezer top, which is a candlestick pattern that is usually formed at the end of a uptrend. Given that the tweezer top is considered a reversal pattern, 
OfficeMax Inc. (NYSE:OMX) is an office products retailer. The Company distributes and retails a variety of products such as office supplies, technology products, and business furniture. OfficeMax sells through stores located throughout the United States, Canada, and Mexico, and many of the products are also sold through its catalog and internet site.
OfficeMax's stock has been a defined range with support at $16.49 and resistance at $17.56, which can be used by traders managing their trades, given the possibility of short term weakness in the stock.
Tweezer tops are exactly the opposite of tweezer bottoms, as they define a resistance point for OfficeMax that needs to be digested prior to the stock price to move higher.
Tweezer tops can be formed at the end of an uptrend, at a clear horizontal resistance point, or within a downtrend when price action is dealing with the declining resistance trend. Like any other candlestick pattern it needs confirmation by trading below the previous day low. Below an example of Tweezer Top reversal patterns:
