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Newell Brands Tanks: Here's The Trade

Published 08/07/2018, 03:15 PM
Updated 05/14/2017, 06:45 AM

Newell Brands (NYSE:NWL) sells consumer and commercial products, some of which include Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer's, Coleman, Jostens, Marmot, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo and others.

Support

On Tuesday the stock made a new 52-week low trading at $22.14 a share. Traders and investors should note that the stock actually topped out in June 2017 at $55.08 so it's easy to see the down trend that NWL is currently in. The next major support level for this stock will be around the $17 area. Unfortunately, this support is much lower than the current share price. This level is where the stock broke out in August 2012 from an eight-month base. Often, prior break-out levels will serve as excellent support when retested.

Newell Brands

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