Wednesday, September 23, 2015

Whirlpool Corporation (NYSE: WHR)

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:
1-year chart of Whirlpool (NYSE: WHR)
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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