From Pittsburgh Plate Glass to PPG to Money!

• Posted by Greg Harmon
• on December 10th, 2013

PPG Industries, $PPG, known to us old timers as Pittsburgh Plate Glass, has been on a tear. I suggested in July 2012 that PPG Industries Is So Boring You Should Own It and it is up 71% since then. The trend has just been to move higher. If you missed it then you are in luck. For a technician those trends make it hard to find entries some times. But PPG is giving you one of those entries now. I should put flashing lights up or something. You can use it to establish a long term hold or as a trade. The chart below shows that it breaking a consolidation channel where it has been for 6 weeks. The Measured Move higher takes it to just over 200. The RSI supports a continued move higher and the MACD is about to cross back higher, adding its support. Nothing fancy here, just an opportunity to ride it to 200 or a good reward versus risk entry for a long term position against a break of the channel.

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