Trade Alert - Valspar at New Highs
Published on Thursday, 10 May 2012 12:34 Written by TradersHuddle Wire
New York, May 10th (TradersHuddle.com) - Shares of Valspar Corporation (NYSE:VAL) booked a new 52 week high today by trading above $52.12, traders are definitely monitoring Valspar's price action to see if this move attracts further buying into the stock.
Valspar Corporation (NYSE:VAL) is a manufacturer and distributor of coatings, coating intermediates, and specialty chemical products. The Company supply customers with the ideal coatings solutions for their needs, including industrial coatings for wood, metal and plastic for OEMs, coatings and inks for rigid packaging, paints, varnishes and stains, primarily for the do-it-yourself market, coatings for refinishing vehicles, high performance floor coatings, and resins and colorants for internal use and for other paint and coatings products.
Valspar is currently trading 1.65% versus its previous trading session close, and it has calculated support and resistance at $48.21 and $52.12 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 0.37% from its previous trading close, which means that Valspar stock is outperforming the overall market.
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