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Watch for Praxair Inc to Potentially Rebound After Falling 1.32% Yesterday

By Nick Russo

Praxair Inc (NYSE:PX) traded in a range yesterday that spanned from a low of $154.13 to a high of $155.83. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $156.24 on volume of 631,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Praxair Inc share prices have been bracketed by a low of $127.36 and a high of $168.54 and are now at $154.81, 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Praxair Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Praxair Inc in search of a potential trend change.

Keywords: rebounders praxair inc

Ticker(s): PX