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Next Support Level for Precision Castparts (PCP) is $187.95

Published on Mon, 04/01/2013 - 09:44
By Adrienne Chilton

Shares of Precision Castparts (NYSE:PCP) have bearishly opened below the pivot of $189.53 today and have reached the first support level of $188.78. Analysts will be watching for a cross of the next downside pivot targets of $187.95 and $186.37.

In the past 52 weeks, shares of Precision Castparts have traded between a low of $150.53 and a high of $196.00 and are now at $188.09, which is 25% 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 remained constant.

Precision Castparts has overhead space with shares priced $188.09, or 14.2% below the average consensus analyst price target of $219.31. The stock should discover initial support at its 50-day moving average (MA) of $187.94 and subsequent support at its 200-day MA of $174.13.

Precision Castparts Corp. is a worldwide manufacturer of complex metal components and products. The Company manufactures large, complex structural investment castings and airfoil castings used in jet aircraft engines. Precision has also expanded into the industrial gas turbine, industrial metal working tools and machines, and other metal products markets.

By Adrienne Chilton
achilton@fnno.com

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