Daily chart, the stock is showing positive performance to form 2 overlapping patterns..
After crossing 52, the first pattern targets 70.5
After crossing 58, the second pattern targets 79
Stop loss (breaking down the red line) should be considered
With governments around the world releasing various stimulus packages focused heavily around infrastructure and construction type projects to help boost the economy, equipment suppliers like TEREX have been benefiting.
Terex has been showing strong momentum and after a nice 10% pullback to value might be about to continue its run.
Worth a watch.
- Machinery is a strong industry like CAT because of infrastructure development
- Notice rectangle 4 months base of TEX from June to September
- Resistance line 22 is established
- Once breakout happened above 22 in October, it triggered buying into TEX 10/07 @24.34
- Strong uptrend lifted TEX all the way to 31.13 on 11/18 that is the time to take +28% profits...
My personal notes, all in charts , just some to share to give back to the universe!
Personally I have some of TEX 41k for hold to retirement ( HAHAHA that's funny)
try to explain at different price levels
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
3/28/2017 TEX has left the balance area on top and is looking for support below. Next area of support (Target 1) is 28.50 and Target 2 will be the 200 Daily Moving Average.
This bearish pattern is the combination of a horizontal support line and falling resistance line. It looks price made lower higher and new lower low which is confirmed today though market was up in general. It looks next leg down will take a few months and the chance to see another 25% drop is very likely if you decide to take a short position do your homework and...
