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Thursday, January 25, 2018 11:36:10 AM
Briggs & Stratton Corp Breaks Down, Know This Level
Briggs & Stratton Corp (NYSE:BGG) is a leading manufacturer of gasoline engines for outdoor power equipment. Last night, the company reported earnings that are not being well received by the street. Today, BGG is trading lower by nearly 10.0 percent to $24.57 a share. The stock is trading just above its 100-day moving average at $24.29 which is still daily chart support. A daily close below this level will be a negative for the stock and signal further downside.
There is a very good institutional support level for BGG stock around the $22.40 area. This area was defended on October 17, 2018. Often, prior support levels will serve as solid trade opportunities when retested.
Nicholas Santiago
InTheMoneyStocks
Briggs & Stratton Corp (NYSE:BGG) is a leading manufacturer of gasoline engines for outdoor power equipment. Last night, the company reported earnings that are not being well received by the street. Today, BGG is trading lower by nearly 10.0 percent to $24.57 a share. The stock is trading just above its 100-day moving average at $24.29 which is still daily chart support. A daily close below this level will be a negative for the stock and signal further downside.
There is a very good institutional support level for BGG stock around the $22.40 area. This area was defended on October 17, 2018. Often, prior support levels will serve as solid trade opportunities when retested.
Nicholas Santiago
InTheMoneyStocks
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