A 52 Week High for Air Products, will it Hold?

Published on Thursday, 07 July 2011 12:38 Written by Christopher Lynn

New York, July 7th (TradersHuddle.com) - Shares of Air Products and Chemicals, Inc. (NYSE:APD) booked a new 52 week high today by trading above $96.95, traders are definitely monitoring Air Products' price action to see if this move attracts further buying into the stock.

Air Products and Chemicals, Inc. (NYSE:APD) produces industrial gas and related industrial process equipment. The Company also produces and markets polymer chemicals, performance chemicals, and chemical intermediates. Air Products recovers and distributes a wide variety of gasses for industrial applications, as well as medical and specialty applications.

Air Products is currently trading 0.19% versus its previous trading session close, and it has calculated support and resistance at $89.25 and $93.89 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.97% from its previous trading close, which means that Air Products stock is underperforming the overall market.