Watch This Trade Level For DuPont De Nemours Inc

Since the beginning of 2018 leading diversified manufacturer, DuPont De Nemours Inc (NYSE: DD), has been under pressure. The stock has declined by $41.00 since it’s 2018 pivot high at $101.85 a share. Recently, DuPont merged it’s a nutritional business with International Flavors (NYSE: IFF). The marketplace did not seem to reward that deal as the stock has fallen to a new two year low. The stock is very oversold at this point in time, so there could be some short term bounces soon. Unfortunately, the stock is in a severe down-trend and has no relative strength when compared to the major stock indexes. This tells me to look lower for a major support level. The $50.00 area looks very attractive as a buy level for DD stock. This is where the shares broke out of a sideways base in 2013. Often, stocks will be defended around prior breakout levels. This is a level where I would look to buy the stock.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.