Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
PPG stock (NYSE: PPG) PPG Industries, Inc. engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.The company was founded by John B. Ford and John A. Pitcairn in 1883 and is headquartered in Pittsburgh, PA.
Will PPG Stock Surpass Hurdle of $135
On the daily charts, PPG stock is trading inside the falling channel and retested the demand zone of $120 in the past sessions. Afterwards, the stock rebounded from the lower trendline and surpassed the 20 day EMA. Furthermore, the price action shows buyers’ accumulation and their willingness to catch the uptrend. The stock underwent a correction period and is now ready to retain the 100 day EMA mark.
The RSI curve stayed in the overbought zone and formed bullish divergence suggesting a continuation of bounce in the upcoming sessions.
The MACD indicator showed a bullish crossover and formed green bars on the histogram suggesting a positive outlook for the next sessions.
PPG Stock Price Prediction 2023
On the daily charts, PPG stock price is trading above the 20 day EMA and is close to the upper trendline hurdle of $130.
The ongoing trend shows recovery after continuous profit booking. The chart suggests that buyers are gaining traction and are looking to retest the upside zone of $150 and $180 soon.
At press time, PPG stock price was trading at $127.81 with an intraday gain of 0.05% showing neutrality on the charts. Moreover, the trading volume increased by 0.45% to 1.522 Million while the market cap is $30.138 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $153.94 suggesting a growth outlook.
Per the technicals, PPG stock will likely retest the round mark of $150 soon. In case of a sell-off, the stock will retest the immediate support zone of $110 followed by $100.
PPG Stock Price Prediction 2024
On the monthly charts, PPG stock price has retested the 100 day EMA and paused post retracement from the round mark of $150. Furthermore, the stock faced multiple hurdles near the resistance mark of $150, which the bulls failed to surpass.
If the bulls succeed in escaping the round mark of $150, a sharp move will unlock which will take the stock to $220 by 2024.
Conversely, if the stock slips below the 20 day EMA again, PPG stock will retest the demand zone of $120 and will go to the lows of $100.
PPG Stock Price Prediction 2025
On the 6 months chart, PPG stock delivers the incisiveness between the bulls and bears and delivers profit booking in the past sessions. Furthermore, the stock showed retracement and is taking a pause near the 20 day EMA.
However, the stock is in an uptrend and persists in extending the gains amid the bearish market sentiments.
As per the technicals, PPG stock could go reach the $200 mark in the next few years. However, if the bears trigger the breakdown below $100, the stock will slip to the lows of $75.
Summary
PPG stock price is trading above the 20 day EMA and is close to the upper trendline of $140, which if surpassed, stock will gain traction and reach the higher zone of $200. Moreover, the stock has done its correction and is likely to initiate a recovery which is a buying opportunity for the investors.
Technical Levels
Support Levels: $60 and $50
Resistance Levels: $70 and $80
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/11/08/ppg-stock-price-prediction-2023-2024-2025-bulls-shines-from-demand-zone/