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Stock Investors Sell Off Shares of SPX, Down 1.8%

Published on Fri, 04/05/2013 - 12:30
By Peter Chu

SPX (NYSE:SPW) is a company whose shares are active, trading 1.8% lower to $75.19. The Dow Jones Industrial Average is now trading 0.7% lower to 14,508 and the S&P is trading 0.9% lower to 1,547.

SPX Corporation is a global provider of technical products and systems, industrial products and services, service solutions, and vehicle components. The Company designs, manufactures, and markets data networking equipment, fire detection equipment, power transformers, TV and radio broadcast equipment, and a variety of specialty tools, equipment, and services.

SPX has overhead space with shares priced $75.19, or 10.3% below the average consensus analyst price target of $83.87. The stock should find resistance at its 50-day moving average (MA) of $78.29, as well as support at its 200-day MA of $68.87.

In the past 52 weeks, SPX share prices have been bracketed by a low of $56.31 and a high of $85.82 and are now at $75.19, 34% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

By Peter Chu
pchu@fnno.com