Siemens AG (ADR)(OTCMKTS:SIEGY) has been trading in a broad trading range over the past couple of weeks. The stock faces resistance at its 200 day moving average at $103.90 while is seen taking support at its 50 day moving average at $96.04.
Siemens AG is a German industrial conglomerate with interests in information services, automation and controls, medical equipment, power generation, transportation systems, automotive electronics, lighting, and many other areas.
Siemens AG (ADR) (OTCMKTS:SIEGY) enjoyed a short term breakout as it finished the day with a gain of 2.57%. More than the magnitude of the gain, the structure created by this gain would be more important for the bulls.
Continuing to strengthen its commitment to women's health, the leading firm Siemens AG (ADR)(OTCMKTS:SIEGY) spearheads a new approach to inform patients about the significance of regular breast tissue test through mammography.
Siemens AG (ADR)(OTCMKTS:SIEGY) was a notable gainer in the overnight trading session. The stock rallied by 4% on the back of the 1.5 times the average daily volumes which are considered to be a bullish sign.
JP Morgan on Monday reiterated its Neutral rating and price target of $99.69 on Siemens AG (ADR) (OTCMKTS:SIEGY) stock, after Dresser-Rand Group Inc. (NYSE:DRC) reported poor fourth-quarter (4Q) results on Friday.