Whirlpool Corporation manufactures and markets home appliances and
related products worldwide. The company’s principal products include
laundry appliances, refrigerators and freezers, cooking appliances,
dishwashers, mixers, and other portable household appliances. It also
produces hermetic compressors for refrigeration systems. The company
markets and distributes its products under various brand names, such as
Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Roper, Admiral, Affresh,
Gladiator, Inglis, Estate, Acros, Supermatic, Consul, Brastemp,
Indesit, Bauknecht, Ignis, Laden, Hotpoint, and Privileg. It sells its
products to retailers, distributors, dealers, builders, and other
manufacturers.
Take a look at the 1-year chart of Whirlpool (NYSE: WHR) with the added notations:
WHR has been trending lower since the beginning of March. Over the
most recent 3 months the stock has repeatedly found support around $160
(green). Now that the stock appears to be falling back down to that
support level again, traders might be able to expect some sort of
bounce. However, if the $160 support level breaks, lower prices should
follow.
The Tale of the Tape: WHR has an important level of
support at $160. Traders could enter a long position at $160 with a stop
placed under the level. If the stock were to break below the support a
short position could be entered instead.
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