Tuesday, September 19, 2017 12:22:27 PM
Sealed Air(NYSE:SEE) is a leader in the non-paper container and packaging sector. The company is engaged in food safety and security, facility hygiene and the product protection business. SEE stock has been steadily declining since April when it traded as high as $52.83 a share. Since that high pivot the stock has slid down to the $41.57 area where it is trading today. The stock is now trading below its important 50 and 200-day moving averages. This puts the stock in a very weak technical position on the charts. Currently, the stock is oversold in the short term, so short term bounces are possible. The better support level for SEE stock will be around the $36.00 level. This is an area where the stock broke out in 2014. Often, prior breakout area will be defended by the institutional money when back tested. Stay tuned as I will be looking to trade this on the long side around this major support level.
Nicholas Santiago
InTheMoneyStocks
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