Air Products and Chemicals shares have been trading in a nice uptrending channel for nearly two years. However, for those looking to buy APD it is not an ideal time right now. The stock is now near the top of the channel (RSI near highs as well) and could be setting up for a pullback to mid to high $140's in the coming weeks (major support at the 40-week SMA).
On...
APD has been in an uptrend all year but the deep pullbacks have made it too unpredictable to long-term trade so far.
On the daily chart an inverted head and shoulders chart pattern offered an opportunity to trade a measured move up. Since the break of the pivot high (which also confirmed the H&S pattern) there have been two gaps up on slightly higher...
See notes on chart.
3 week price change is 1.89%
PA could not form new highs all of AUG and PA is seeming to form a rounded top.
Price broke through support and and the trendline, but was pushed up by buyers today. wait on confirmation.
Buying DEC 130 Puts I think this gap will be filled before the end of the year.
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, performance materials, equipment, and services worldwide. The company operates through four segments: Merchant Gases, Tonnage Gases, Electronics and Performance Materials, and Equipment and Energy. Today a trader bought 10,000 APD Jan 2015 Calls for $4.10. Let breakdown...
