PPG Industries, Inc. manufactures and distributes coatings, optical
and specialty materials, and glass products. The company operates in
five segments: Performance Coatings, Industrial Coatings, Architectural
Coatings, Optical and Specialty Materials, and Glass. It offers coatings
products for automotive and commercial transport/fleet repair and
refurbishing, light industrial coatings, and specialty coatings for
signs; sealants, coatings, maintenance cleaners, and transparencies for
commercial, military, regional jet, and general aviation aircraft and
transparent armor for specialty applications; and coatings and finishes
for the protection of metals and structures to metal fabricators, heavy
duty maintenance contractors, and manufacturers of ships, bridges, and
rail cars.
To review PPG’s stock, please take a look at the 1-year chart of PPG (PPG Industries, Inc.) below with my added notations:
PPG has been trending primarily higher for most of the year. The
stock had also created a clear level of resistance at that $200 (red)
over the last 3 months, which was also a 52-week high resistance. A
break through that level would most likely mean higher prices for the
stock, and as you can see from the chart, PPG finally broke higher last
week.
The Tale of the Tape: PPG broke out to a new 52-week
high. A long trade could be made near $200 with a stop placed below
that level. A break back below $200 would negate the forecast for a
continued move higher.
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