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Downgrade Alert for Whirlpool (WHR)

By David Diaz

Whirlpool (NYSE:WHR) was downgraded from Buy to Neutral at MKM Partners today. The stock closed yesterday at $163.01 on volume of 1.4 million shares, above average daily volume of 969,000.

Whirlpool Corporation manufactures and markets major home appliances. The Company's principal products include laundry appliances, refrigeration and room air conditioning equipment, cooking appliances, dishwashers, and mixers and other small household appliances. Whirlpool's products are sold worldwide

Over the past year, Whirlpool has traded in a range of $123.60 to $194.10 and closed yesterday at $163.01, 32% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

There is potential upside of 15.4% for shares of Whirlpool based on a current price of $163.01 and an average consensus analyst price target of $188.12. The stock should find resistance at its 50-day moving average (MA) of $174.79, as well as support at its 200-day MA of $160.13.

SmarTrend recommended that its subscribers protect gains by selling shares of Whirlpool on August 25th, 2016 by issuing a Downtrend alert when the shares were trading at $180.70. Since that call, shares of Whirlpool have fallen 11.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Whirlpool

Ticker(s): WHR