New York, September 26th (TradersHuddle.com) - Emerson Electric Co. (NYSE:EMR) closed the the trading session at $48.30, near its 50 day and 200 day moving averages currently set at $49.57 and $49.15 respectively. Emerson's price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.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 $48.82 and resistance at $52.98. Traders should monitor these levels, as they provide insight into the latest price dynamics in Emerson.
If traders want to establish a position on Emerson, given the heavy resistance expected near the 50 and 200 day
moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.