ECL had been in a long-term uptrend. It took a breather in the second half of '23. But resumed with aggression (to end the year up 35%)! The recent gap up pushed the price perfectly back into the uptrend channel and the bulls have taken recent control pushing above the gap-anchored VWAP. The daily TTM squeeze that just fired caused the MONTHLY squeeze to fire...
XLB materials sector saw a nasty down day today despite the S&p500 closing positive. Clear relative weakness is being observed. One of the leading stocks in XLB : DD (Dupont) collapsed by 14% after issuing weak forward guidance ahead of their earnings. If they're expecting softer demand from China you can almost count on contagion through the sector.
Ecolab looking like a super stock right now, not only do they dominate the commercial cleaning equipment/chemicals game, they are also uniquely poised to excel during times of drought due to their production of water filters / desalination tech. Overall I can see ECOlab eclipsing $185 by the years end. Manage risk accordingly
looking daily SMA looks like bearish trend and target 163.2
The PEAD projected a Neutral outlook for $ECL after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 66.67%.
ECL is a top pick but these last few weeks have been UGLY. However, inflation pressures are expected to subside somewhat over next couple months and this could be a benefactor while everyone else is scared to buy it. Stop between 180 and 188 would reduce risk significantly. 3 gaps above which will be magnets to get filled. I would probably wait until earnings come...
ECL Getting closer to a breakout 14 Month long rectangle pattern Pays out dividends
ECL - Bearish Engulfing on supply zone
The perfect future would give us a test of the (new) support line.
Potential breakout in coming days to strong ATH looks like we have had a potential inverse H%S setup Option traders have been quite active in the June 5th options