Shares of Praxair (PX) Sees Large Outflow of Money

Praxair (PX): The stock had negative money flow to the tune of ($5.46 million) on Thursday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $15.68 million, whereas, the outflow of money on downticks was $21.14 million and the ratio between the two was 0.74. The block trade had a negative net money flow of ($6.54 million). On the other hand, downticks amounted to $6.54 million of the traded value, which shows distribution in the stock by traders. Praxair (PX) closed with marginal gains of 1 cents to end the day at $111.84, an increase of 0.01% over the previous days close. The stock recorded -1.37% for the week.


Praxair (PX) stock is expected to deviate a maximum of $10.42 from the average target price of $119.75 for the short term period. 12 Street Experts have initiated coverage on the stock with the most promising target being $135 and the most muted being $100. The stock has recorded a 20-day Moving Average of 0.16% and the 50-Day Moving Average is 0.3%.

Praxair (NYSE:PX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $112.15 and $111.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $112.95. The buying momentum continued till the end and the stock did not give up its gains. It closed at $111.84, notching a gain of 0.01% for the day. The total traded volume was 716,181 . The stock had closed at $111.83 on the previous day.

Praxair, Inc. (Praxair) is an industrial gas supplier in North and South America, Asia and Europe. The Companys operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, Praxair operates its surface technologies business through its wholly owned subsidiary, Praxair Surface Technologies, Inc., which represents the fifth segment. The Companys products in its industrial gases business include atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene). The company also designs, engineers and builds equipment that produces industrial gases primarily for internal use. The companys surface technologies segment, operated through Praxair Surface Technologies, Inc., supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.

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