Air Products caused a stir among trading forums earlier this week when it logged a 52 week high, trading above $96.95.
Shares of the North American industrial gas and equipment provider, Air Products and Chemicals, Inc. recorded an annual peak price when shares traded above $96.95.
Experts position the firm as currently trading 0.19% on its pervious trading session close, while the firm has calculated support and resistance at $89.25 and $93.89 respectively.
The topic has hit headlines with agencies including the Market Intelligence Centre as well as TradersHuddle.com. Commentators such as Christopher Lynn, from the latter forum, Tradershuddle.com have suggested that, “Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.”
In a recent statement Lynn added, “The overall market index S&P 500 is trading higher by 0.97% from its previous trading close, which means that Air Products stock is underperforming the overall market.”