Black & Decker shares drop a second straight session on Monday, company to establish a $35 million plant in the United States

January 10, 2017 8:18 am

James Loree, Stanley Black & Decker Inc.’s Chief Executive Officer, has informed President-elect Donald Trump about his company’s decision to establish a $35 million plant in the United States, an e-mail briefing from the Republican National Committee revealed. According to Sean Spicer, head of communications at the Republican National Committee, such a decision was “another huge win” for the local economy.

Black & Decker shares closed lower for a second consecutive session on Monday. The stock went down 0.47% ($0.55) to $117.66, with the daily high and the daily low being at $118.88 and $117.54 respectively. In the week ended on January 8th the shares of the tool maker added 3.07% to their market value compared to a week ago, which marked the first gain in the past four weeks and also the best performance since the week ended on November 13th. The stock retreated 3.32% in December, following a 4.21% surge in the prior month. For the entire 2016, the shares of the S&P 500-featured manufacturer gained 7.46%.

Black & Decker’s decision was “a perfect example of the kind of leadership the Trump administration is going to provide when it comes to advancing policies that benefit American workers”, Sean Spicer said in a statement, cited by Reuters. “President-elect Trump has made it clear that his administration will follow two simple rules: Buy American and hire American. Under President-elect Trump’s leadership, the United States will be the world’s great magnet for innovation and job creation”, he added.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Black & Decker stock are presented as follows:

R1 – $117.78
R2 – $117.91
R3 (Range Resistance – Sell) – $118.03
R4 (Long Breakout) – $118.40
R5 (Breakout Target 1) – $118.83
R6 (Breakout Target 2) – $119.00

S1 – $117.54
S2 – $117.41
S3 (Range Support – Buy) – $117.29
S4 (Short Breakout) – $116.92
S5 (Breakout Target 1) – $116.49
S6 (Breakout Target 2) – $116.32

By using the traditional method of calculation, the weekly levels of importance for Stanley Black & Decker Inc (SWK) are presented as follows:

Central Pivot Point – $117.92
R1 – $120.98
R2 – $123.75
R3 – $126.81
R4 – $129.87

S1 – $115.15
S2 – $112.09
S3 – $109.32
S4 – $106.55

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