Bearish Moving Average Cross by PPG Industries (PPG)

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Jan 15, 2013 (Moving average crossovers via COMTEX) -- PPG Industries (NYSE:PPG) crossed under its 10-day moving average of $140.05 on a volume of 821K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.There is potential upside of 2.4% for shares of PPG Industries based on a current price of $139.94 and an average consensus analyst price target of $143.35. The stock should find initial support at its 50-day moving average (MA) of $127.05 and further support at its 200-day MA of $112.24.

In the past 52 weeks, PPG Industries share prices have been bracketed by a low of $86.74 and a high of $142.87 and are now at $139.94, 61% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.2%.

PPG Industries, Inc. supplies products for the manufacturing, construction, automotive, chemical processing, and other industries worldwide. The Company makes protective and decorative coatings, flat glass, fabricated glass products, continuous-strand fiber glass products, and industrial and specialty chemicals.


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