Paper Trading plan for TPC, going off the hammer from 12/20 on the daily chart. Comment your thoughts.
NYSE:TPC #TPC Short term upside based on previous moves - MACD curving up - RSI room to go higher Buy at USD 17.36 1st TP USD 18.39 2nd TP USD 19.23 SL USD 16.80
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Tutor Perini Corp NYSE:TPC stock price plummeted hard in the last year. It went from $17ish levels in Nov19 all the way to its bottom at $2.50 during the market panic this Mar20. Since then the stock is going up (yesterday close at $7.77). Governments across the globe are planning massive infrastructure investments to support their economies. As construction ...
see the chart, + volume increase
In this case, it is necessary to wait for the end of correction.
Tutor is setting up nicely after breaking out from an inverse H&S bottom. Good entry on a pullback to $13. Potential resistance levels seen on chart. Risk management says stop if a break of the middle of the previous range is broken. I'd set it to follow just below the 50 DMA as it's curling up which should help stall a downward move and give time for...