DuPont wrestles with projections
The company has moved beyond its chemical past to become a diverse owner of high-growth businesses.
The 10year chart looks horrendous though. If they've truly become a different company, maybe they can get out of the long term no growth stock price they've had.
In the short term, it made a hugely bearish head and shoulders top. A triple, around 56-57 dollars. It hit it 3 times and could not come thru. Even worse it lost 200 day cieling level in exchange for now having a possible cieling at the 50 day MA.
The only real hard resistance line is at 34 from a double bottom in June 2010, and hard bottom multiple times at 31/32 from August 2009 thru Febr 2010. Not to mentioned the price channel is severe to the downside on the lower low side this year. 3 successive lower lows where the bottom line is more severely down than the top line lower highs.
I'd say you can get a much better entry point over the next few months. It's at $45 now, I'd actually expect it to drop into the mid 30s next year.
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