Vulcan Materials stock has formed a Symmetrical Triangle on a possible earnings beat when they report on August 1, 2017. I like the chart setup enough to go long this stock in my personal trading account.
Vulcan Materials News
Kiplinger’s Personal Finance called Vulcan Materials the best stock in Alabama (here). Kiplinger writes:
Vulcan is trading near an all-time high thanks to a run-up in the stocks of building-materials companies following the presidential election. And if the current administration goes forward with its plan to spend $1 trillion to revamp the nation’s infrastructure, few companies stand to benefit more than Vulcan.
Vulcan Materials Stock Chart
VMC shows a beautiful positive divergence between the Effective Volume study of large players volume and the price chart. The Twiggs Money Flow does not support the large players volume but does appear to be rounding up.
Prices have been consolidating lately and the volatility has been reduced. The chart is very close to forming a momentum squeeze setup.
The TSI has given a beautiful buy signal on a bullish cross.
There is a support zone below the current price at $126.44, a stop order could be placed below this zone.
The chart looks like a good setup as we head into the August 1, 2017 earnings report which is likely to beat IMO. This is a short-term swing long trade with a sell either before, or the day after, earnings.
What do you think about Vulcan Materials stock? Leave your comment below.
The US National Hurricane Center just reported that tropical storm Matthew is heading for the Central Caribbean Sea. The tropical storm is moving west at 15 mph with max sustained winds of 65 mph.
Quanta Services provides infrastructure contracting services to the electric power, gas, telecommunications and cable television industries. After a big storm or flood, they are the emergency response team that will be the first on-site to repair down power lines and broken pipes.
Vulcan Materials produces construction aggregates such as crushed stone, sand, and gravel used in nearly all forms of construction. The thing I like about Vulcan Materials is that public spending will likely increase no matter who wins the Presidential election and that should bode well for construction materials providers like Vulcan.
I also like the Shooting Star pattern on Vulcan which means the stock is likely to pullback which would make for a better entry than Quanta Services.
For a shorter term swing trade, I like Generac Holdings Inc. which is a designer and manufacturer of power generation equipment and other engine powered products.
Notice the beautiful swings on Generac Holdings in the chart below.
Disclosure: I do not hold any position in PWR, VMC, or GNRC.