Friday, June 6, 2014

PPG Industries Inc. (NYSE: PPG)

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
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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