Manitowoc, Reversal Soon?
Published on Thursday, 04 October 2012 04:54 Written by TradersHuddle Wire
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:
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:17,706.05 Trade time:4:32PM EDT Value change:▲213.12 (1.22%)
S&P 500Company ID [INDEXSP:.INX] Last trade:2,076.06 Trade time:4:32PM EDT Value change:▲28.02 (1.37%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:4,861.06 Trade time:5:15PM EDT Value change:▲95.27 (2.00%)
In The Wires
GW Pharmaceuticals Commences Phase 1 Clinical Trial of GWP42006 as a Potential Treatment for Epilepsy
NTT Communications and JBA's SDN Project Wins IBC 2013 Innovation Award
Frost & Sullivan Honours Interactive Intelligence with its EMEA Contact Centre Company of the Year Award
AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
$500,000 Shopify Build a Business Competition Has Just Been Announced for 2013
Solomon Associates Hydrocarbon Loss Reduction Seminar Shares Practices that Lead to Significant Savings
AT&T 4G LTE Available In Willimantic
AT&T 4G LTE Available In Torrington