Polypore International Plunges, Watch This Support Level
Polypore International, Inc. (NYSE:PPO) is a leading high-technology filtration company that develops, manufactures and markets specialized microporous membranes. The Company's products and technologies are used in two primary businesses: energy storage and separations media. Today, a note issued by William Blair says that vehicle electrification is behind forecasts.
This morning, this news is sending PPO stock lower by $3.47 to $41.31 a share. Traders and investors should watch for very good daily chart support around the $38.25 level. This is a level where the stock broke out in June 2013. Often, stocks will retest prior pivots and be supported around these old levels by the institutional traders.