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Newell Brands Inc. (NWL) – stock is trading around $18.59 dollars as of October, 08, 2019 and offering a possible buying price between $18.64 – $19.57. Let’s look at the stocks technical actions using a weekly chart.
2. The stock was in a long downtrend for a long time.
3. It also lived below the 200 day moving average (DMA), as the downtrend continued.
4. The stock also lost the 50 DMA during the downtrend and it was knocked out the below the line when it tried to regain. However, the stock finally took that line in early August in heavier volume.
5. The stock brokeout in early September.
6. The stock also regained the long term resistance line 200 DMA along with the breakout.
7. The stock is offering possible buying price between $18.64 – $19.57, with a stop loss at $17.15.
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