Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NWL stock price is close to the falling trendline near $10.</a> </li> 
 <li> <span>2</span> <a>Buyers are attaining strength and are looking to surpass the 20-day EMA.</a> </li> 
</ul> 
<p>Newell Brands Inc. (NASDAQ: NWL) NWL stock price stayed in a downward trajectory and is trying to surpass the 20-day EMA near the trendline of $10. Furthermore, NWL stock faced rejection from the falling trendline and formed the lower lows for the past sessions. Moreover, the price action indicates the short buildup activity and favors the mighty sellers who have attained momentum and dominated the battle for the past months. NWL share price is below the cluster of $10, indicating that the put writer at the strike price of $10 was trapped and is now in fear. However, bulls need to attain momentum and tried to sustain at $10, which will avoid further panic selloff.&nbsp;</p> 
<p>NWL stock price is below the significant moving averages and has shown a lack of investor interest for the past months. NWL stock has lost the initial gains and lost the charm &amp; curiosity of investors for the stock. Per the options chain, at the strike price of $10, the massive open interest of 1226 hundred shares on the put side was there, whereas, on the call side, only 756 hundred shares were there. Besides that, buyers failed to hold $10 and are being trapped.</p> 
<p>At press time, NWL stock price is trading at $9.03 with an intraday gain of 3.79% showing a short covering move in the yesterday session. Moreover, the trading volume increased by 1.89% to 5.90 Million, and the market cap is $3.74 Billion. However, analysts maintained a neutral rating with a yearly target price of $12.50, suggesting a negative outlook for the upcoming sessions.</p> 
<p>Newell Brands, Inc. engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment includes commercial cleaning and maintenance solutions, closet and garage organization, hygiene systems and material handling solutions, connected home and security, and smoke and carbon monoxide alarms.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-nwl-stock-surpass-trendline-of-10-strong"><strong>Will NWL Stock Surpass Trendline of $10?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/iOdGAfWfF7l0N2pJu8j9TWc4hvTFye9rT2f0isbwxPJsfX9HZDiCj6rwGRMCkXw0rQKlKvfmtYvGGOphurjTJbyoV-l7L7OJTc1bsBmarMWVoRZQJFSftc8ZURi3HctGv7U6qdjKCkMWyyiq06-B0o4" alt="NWL Stock (NASDAQ: NWL) Waiting to Cross Trendline Near $10"> 
  <figcaption class="wp-element-caption">
    Source: NWL Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, NWL stock price formed a falling channel, and the price is close to the upper trendline near $10, from where if NWL stock faced rejection, it would lead to a shift toward the lower edge of the channel near $6. Moreover, the price has slipped below the 50% Fib zone, indicating a bearish sentiment.</p> 
<p>The RSI curve is in the oversold region, forming a bearish divergence, suggesting that follow-on selling will continue in the following sessions. The MACD indicator showed a bearish crossover and formed red bars on the histogram suggesting a negative outlook for the next sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p>NWL stock <a href="https://www.thecoinrepublic.com/2023/10/01/exxon-stock-analysis-will-xom-stock-break-120-in-october/" rel="noopener noreferrer nofollow">price </a>is below the cluster of $10, showing a bearish chart structure forming a falling channel pattern indicating bearish dominance. Moreover, the price action is favoring the bears and suggests that selling pressure may continue, and NWL stock will retest the channel lows of $6 in the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $8 and $6</p> 
<p>Resistance Levels: $10 and $12</p> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>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.</p>

NWL Stock (NASDAQ: NWL) Waiting to Cross Trendline Near $10

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Thecoinrepublic.com

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