Ferro Corporation produces and sells specialty materials and
chemicals in the United States and internationally. The company operates
in five segments: Pigments, Powders, and Oxides; Performance Colors and
Glass; Performance Coatings; Polymer Additives; and Specialty Plastics.
It offers various performance materials, including frits, porcelain and
other glass enamels, glazes, stains, decorating colors, pigments, inks,
polishing materials, specialty dielectrics, electronic glasses, and
other specialty coatings; and performance chemicals comprising polymer
additives, engineered plastic compounds, and pigment dispersions. The
company’s products are used in appliances, automobiles, building and
renovation, electronics, household furnishings, packaging, and
industrial products. It sells its products primarily to the
manufacturers of ceramic tiles, appliances, construction materials,
automobile parts, glass, bottles, and wall coverings directly, as well
as through agents and distributors.
Please take a look at the 1-year chart of FOE (Ferro Corporation) below with my added notations:
FOE has held a very important level of support at $12 (green) since
October of last year. No matter what the market has done lately, FOE has
not broken $12. Now the stock is approaching $12 again and that might
provide another bounce higher. However, the stock’s recent creation of
lower highs could lead to an impending breakdown on the horizon.
The Tale of the Tape: FOE has a key level of support
at $12. A trader could enter a long position at $12 with a stop placed
under the level. A break though the trendline resistance, which
currently sits near $13, would also be an opportunity to get long on the
stock. If the stock were to break below the support, a short position
would be recommended instead.
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