Filed Under: ,
Tickers in this Article: DD
New York, August 14th ( - Shares of E.I. DuPont de Nemours & Co. (NYSE:DD) closed the trading session at $50.23 with its price action in a very tight range, given that calculated support is set at $48.68 and the calculated resistance is set at $51.12.E. I. Du Pont de Nemours and Company (NYSE:DD) is a global chemical and life sciences company, with businesses that include agriculture and industrial biotechnology, chemistry, biology, materials science and manufacturing. The Company operates globally and offers a wide range of products and services for markets including agriculture and food, building and construction, electronics and communications. DuPont, with 60,000 employees worldwide, was founded in 1802 and its headquartered in Wilmington, DE

DuPont's stock price action indicates that both sellers and buyers are materializing very close to each other. This signals an area where momentum is building, since the stock can resolve by breaking out of the developing tight range.

Traders wanting to establish a position should pay close attention to DuPont's price action, as any movement outside its predefined range of $48.68 and $51.12 could grasp the attention of momentum buyers that look for a big movement in the price of the stock. Traders need to be aware that tight range resolution works both ways, hence, a move below support could spark above the average selling. A tiered approach could be the best way to start a position; enter into it while the stock is in the tight range, and then add to this position as it breaks and closes above resistance.

comments powered by Disqus

Trading Center