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Watch This Trade Level For DuPont De Nemours Inc (NYSE:DD)

Since the beginning of 2018 leading diversified manufacturer, DuPont De Nemours Inc (NYSE:DD), has been under pressure. The stock has declined by $41.00 since it’s 2018 pivot high at $101.85 a share. Recently, DuPont merged it’s nutritional business with International Flavors (NYSE:IFF). The marketplace did not seem to reward that deal as the stock has fallen to a new two year low. The stock is very oversold at this point in time, so there could be some short term bounces soon. Unfortunately, the stock is in a severe down-trend and has no relative strength when compared to the major stock indexes. This tells me to look lower for a major support level. The $50.00 area looks very attractive as a buy level for DD stock. This is where the shares broke out of a sideways base in 2013. Often, stocks will be defended around prior breakout levels. This is a level where I would look to buy the stock.

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