Manitowoc, Reversal Soon?

mtw New York, October 4th (TradersHuddle.com) - Shares of Manitowoc Company, Inc. (NYSE:MTW) ended the trading session lower by $0.15 or -1.11% from its previous close. Manitowoc's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

The Manitowoc Company, Inc. (NYSE:MTW) is a diversified industrial manufacturer that operates in the cranes and lifting equipment market and on the foodservice equipment market. Its products include lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks as well as ice making machines, refrigerators, and freezers.

Manitowoc's current stock range is determined by calculated support defined at $12.67 and by the resistance level at $13.89, which should be used by traders planning their next move.

If traders want to establish a position in Manitowoc, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Manitowoc for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,169.57 ▼3.11 (-0.02%)
o S&P 500 1,995.04 ▲0.75 (0.04%)
o NASDAQ 4,535.09 ▲7.40 (0.16%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,169.57 Trade time:10:23AM EDT Value change:▼3.11 (-0.02%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,995.04 Trade time:10:23AM EDT Value change:▲0.75 (0.04%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,535.09 Trade time:10:23AM EDT Value change:▲7.40 (0.16%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.