Daily Stock Report

Emerson Electric Co. - (EMR) - August 13, 2021 

 Emerson Electric is a multinational conglomerate that operates under two business platforms: Automation Solutions and Commercial and Residential Solutions. Emerson Electric Co (EMR) moved into the Favored Zone of the SIA S&P 100 Index Report back on Nov 23, 2020, at a price of $77.81. Today the shares are at $104.11 representing a 33.8% price appreciation since then. It briefly went into the Neutral Zone earlier in June and July but the SMAX remained positive. Currently, it occupies the #19 spot in the SIA S&P 100  Index Report. 

In analyzing the Candlestick Chart, we see the shares have been in a steady uptrend since it broke out of its sideways consolidation pattern in early November 2020. It recently broke above its last resistance point at approximately the $98.00 price level signalling a potential move higher to the quickly approaching $105.00 level where next resistance lies. Support can be found at $98.00.

In today’s edition of the Daily Stock Report, we are going to take a look at Emerson Electric Co (EMR). This is the first time we have ever looked at Emerson Electric in our Daily Report.

In the attached Point and Figure chart at a 1% scale, we see the shares recently broke above the $98.63 price level which has been the old high achieved in both June and July of this year. The shares are now exhibiting a positive Triple Top pattern.

Resistance can now be found at $106.80 based on a measured move, and above that, the $113.37 level. To the downside, support is at the psychological as well as the 3 box reversal level of $100.00 and, below that, $91.08. With an SMAX of 9 out of 10, Emerson Electric is exhibiting near term strength against all the asset classes.

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.