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- 1 APD stock shows a double bottom pattern on the charts.
- 2 Bulls were accumulating from the support range.
Air Products and Chemicals (NYSE: APD) stock price shows a symmetrical triangle pattern and remains in the bullish territory, holding the gains. Moreover, APD stock is trading above the significant moving averages and getting support on the 20-day EMA to take a pause and initiate further bounce.
Buyers are gaining traction and are willing to escape the trendline mark of $300 in the upcoming sessions. The trajectory shows a double bottom formation, and the stock rises for a decisive move. The battle is going through an exciting stage where a neckline breakout or a rejection can be seen, and investors are setting eyes on stock moves.
The ongoing price action shows that bulls are tightening their grip and pumping the gains forming higher highs in the past trading sessions. Furthermore, the up move is noted on charts that buyers want to stretch further. If buyers continue to pull the price and escape the pattern’s neckline of $290, it will retest the round mark of $300.However, per the stock’s technicals, various analysts gave a neutral to buy rating.
Air Products and Chemicals, Inc., is an industrial gas company. The company provides essential industrial gases, related equipment and applications to customers in various industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. The Company also supplies liquefied natural gas process technology and equipment.
APD stock was being traded at $286.39 at press time, showing an intraday increase of 0.05% showing neutral moves. Furthermore, the trading volume was 721.497 Million in the intraday session. The market cap of APD stock is $63.614 Billion.
Daily Charts Shows APD Buying Province
On the daily charts, APD stock shows a symmetrical triangle pattern, and bulls continue to drill the muscles for an upcoming punch action near the trendline load of $290. However, the mighty bears maintained strong resilience and did not allow the bulls to escape.
As per the Fib levels, APD stock is near the neutral mark of 50% but faces a barrier above it. Moreover, the stock price is above the mid-Bollinger band and shows a crossover, suggesting an upcoming bullish spike.
Short Term Charts Shows APD Stock Waiting for a Breakout
On the 4-hour chart, APD stock is waiting for a breakout and the bulls are preparing to bounce. Moreover, the chart shows a rounded shape of recovery in the intraday session, double bottom formation and gaining volume of buyers. The long buildup activity was also noted, indicating the start of an uptrend.
The RSI curve stayed in the overbought zone, showing a positive divergence which shows the 20-day EMA mark supports the bulls to refurbish the gains.
The MACD indicator shows a bearish crossover and offers red bars indicating a mild bearish sentiment in the form of profit booking due to the global market selloff in the last trading sessions.
Conclusion:
APD stock is in the bullish territory and is awaiting further buying to revive the gains and maintain a strong resilience above the 20-day EMA and the trendline of $290.
Technical Levels:
Support Levels:$275
Resistance Levels:$300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
