Waiting for dip.Praxair, Inc. produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders to the aircraft, energy, printing, primary metals, petrochemical, textile, and other industries. In addition, the company offers electric arc, plasma and wire spray, and high-velocity oxy-fuel equipment; and distributes hardgoods and welding equipment purchased from independent manufacturers. It serves various industries, such as healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, chemicals, and water treatment. Praxair, Inc. was founded in 1907 and is headquartered in Danbury, Connecticut.
PX trade ideas
We entered a trade today in PX!Another trade we entered today was in PRAXAIR (PX). Heres why we like this bullish position for a nice swing trade:
1) OVERALL MARKET STRENGTH - The overall market looks phenomenal after a strong move the last couple of days and looks to move to new highs.
2) SECTOR STRENGTH - The industrials sector itself is looking phenomenal after today's move. You can see the great setup in the Industrial Sector ETF XLI.
3) Breaking out of consolidation - This stock has consolidated for for a little while and now looks ready to move higher. There is a squeeze on the 1 hr chart which is one of my favorite setups to trade.
We will see what this trade bring in the coming days!
SPY. DIA. QQQ. IWM.
AMEX:SPY
AMEX:DIA
NASDAQ:QQQ
AMEX:IWM