More Downside for Newell Rubbermaid ?
Published on Tuesday, 17 July 2012 11:34 Written by TradersHuddle Wire
New York, July 17th (TradersHuddle.com) - Shares of Newell Rubbermaid Inc. (NYSE:NWL) booked a new 52 week low by trading below $25.01. Traders are definitely monitoring Newell Rubbermaid's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.
Newell Rubbermaid Inc. (NYSE:NWL) manufactures and markets branded consumer and commercial products which are sold through a variety of retail and wholesale distribution channels. Its products include housewares, juvenile products, home furnishings, office products, tools and hardware, and hair accessories. The company sell its products under several brands, including Rubbermaid, Graco, Sharpie, Paper Mate, and Lenox.
Newell Rubbermaid is currently trading 0.46% versus its previous trading session close, and it has calculated support and resistance at $17.25 and $18.72 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 lower by -0.23% from its previous trading close, which means that Newell Rubbermaid stock is outperforming the overall market.
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