Air Products & Chemicals, Inc. (NYSE: APD)

Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, performance materials, equipment, and services worldwide. The company operates through four segments: Merchant Gases, Tonnage Gases, Electronics and Performance Materials, and Equipment and Energy.

Take a look at the 1-year chart of Air Products (NYSE: APD) below with added notations:

1-year chart of Air Products (NYSE: APD)

APD rallied from February into July before finally stalling at $136. The stock reached that $136 mark again in September only to sell back off. APD is now testing the $136 level once more (blue) and may be looking to finally break through. A close above that resistance would also constitute a new 52-week high.

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The Tale of the Tape: APD has a 52-week resistance at $136. The possible long position for APD would be on a breakout above $136.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

Follow me on Twitter: @cmtstockcoach