RPM International Inc. : A bearish anticipation
Entry price | Target | Stop-loss | Potential |
---|
US$49.08 |
US$0 |
US$51.5 |
+100% |
---|
RPM International is likely to drop on the upcoming trading sessions.
The company has posted today its second quarter results that missed analysts forecasts: Sales (-4.7%) EPS (-5.4%).
Technically, the stock is in a neutral trend on the short term. Prices are falling sharply since the contact with the USD 51.8 resistance and the upward trendline. Moreover, the stock crossed down the USD 49.1 pivot point and the 20 day moving average, which should support the bearish movement.
Therefore, it would be opportune to open a short position on the security to target a return to the USD 46.1 support, and if crossed, the USD 42.9 pivot point. A stop loss will be placed above USD 49.1.
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