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Praxair (PX) Breaks Through Resistance at $112.02

Published on Wed, 04/10/2013 - 12:44
By Adrienne Chilton

Shares of Praxair (NYSE:PX) have bullishly opened above the pivot of $111.53 today and have reached the first resistance level of $112.02. Analysts will be watching for a cross of the next upside pivot targets of $112.67 and $113.81.

Potential upside of 8.3% exists for Praxair, based on a current level of $112.26 and analysts' average consensus price target of $121.57. The stock should find initial support at its 50-day moving average (MA) of $111.63 and further support at its 200-day MA of $108.46.

In the past 52 weeks, shares of Praxair have traded between a low of $100.00 and a high of $116.93 and are now at $112.26, which is 12% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Praxair, Inc. supplies gas to industries primarily located in North and South America. The Company produces, sells, and distributes atmospheric gases including oxygen, nitrogen, argon, and rare gases, as well as process gases including carbon dioxide, helium, hydrogen, electronics gases, and acetylene. Praxair also supplies metallic and ceramic coatings and powders.

By Adrienne Chilton
achilton@fnno.com