Trading the Setup In Emerson
Published on Thursday, 26 July 2012 07:12 Written by TradersHuddle Wire
New York, July 26th (TradersHuddle.com) - Emerson Electric Co. (NYSE:EMR) ended the trading session at $45.60, near its 50 day moving average set at $46.02. Emerson's price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.
Emerson Electric Co. (NYSE:EMR) manufactures and markets electrical, electromechanical, and electronic products and systems. The Company produces a variety of products, including process control, industrial automation, electronics, appliance components, and electric motors. The company was founded in 1890 and is based in St. Louis, Missouri.
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $45.01 and resistance at $47.48. These levels will be closely monitored, as they provide great insight into the latest price dynamics.
If traders want to establish a position in Emerson, given the resistance expected as the stock approaches its 50 day moving average, a trade might materialize as the stock manages to break this important technical level. After the breakout, the 50 day moving average could be used as support going forward. However, until the break materializes, buying the stock is basically a gamble with 50-50 chance.
- KeyCorp Reports 2013 Dodd-Frank Act Mid-Cycle Stress Test Results
- KeyCorp To Present At The Barclays Global Financial Services Conference
- Randy Paine Named President Of KeyBanc Capital Markets
- KeyCorp Third Quarter 2013 Earnings Release Date And Conference Call
- KeyCorp Closes On Sale Of Victory Capital Management And Affiliate
- KeyCorp Reports Second Quarter 2013 Net Income of $193 Million, or $.21 Per Common Share
- KeyCorp Declares Quarterly Cash Dividend Of Five And One Half Cents
- KeyBank Selected To Pilot U.S. Global Business Solutions Initiative To Increase Small Business Exports
- Organic Growth, Not Merger and Acquisitions, is Driving Middle Market Expansion
- KeyCorp Second Quarter 2013 Earnings Release Date And Conference Call
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines