Emerson Is Approaching its 200 Day Moving Average
Published on Tuesday, 07 August 2012 07:36 Written by TradersHuddle Wire
New York, August 7th (TradersHuddle.com) - Emerson Electric Co. (NYSE:EMR) closed the trading session at $48.94, near its 200 day moving average set at $49.00. Emerson's stock action is below this level, which makes the stock difficult to be bought, as it will face resistance as it approaches its 200 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.
Latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $45.01 and resistance at $48.34. Traders should closely monitor these levels, as they provide great reference points for the latest price action in Emerson.
If traders want to establish a position on Emerson, given that resistance could materialize as the stock approaches its 200 day moving average, a trade might materialize as the stock manages to break this important level. After the breakout, the 200 day moving average could be used as support going forward. However, until the break materializes, traders need to exercise patience.
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