Newell Brands Inc. (NWL) closed at $46.49 on Feb. 21, just above the $43 to $45 area which has been in effect since early 2016. In the latter part of 2015, this area acted as resistance. A purchase near $44, with a stop loss below $43, provides a trade with about $1 of risk (per share) and conservative upside of about $4. Since November that stock has stalled just below $48. Therefore, a conservative exit point would be just below $48, capturing these short-term oscillations. If a trader is bullish on the long-term prospects of the stock, this could be a turned into a longer-term trade. If the price does rally above $48, the short-term range added to the breakout price gives an approximate target of $52. In that case, the reward:risk is 8:1.
Read more: Three Stocks Trading Near Support (INTC, GIS) | Investopedia http://www.investopedia.com/stock-analysis/cotd/022217/three-stocks-trading-near-support-intc-gis-intc-gis-nwl.aspx#ixzz4ZTFOJQt9
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