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.
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See comment below from @Market_Morph. Could be the start of a BIG reversal if it stays true to form.
Interesting thought... check out a daily chart and zoom out so you can see the 11 year period from 2010-2021. Now, drag a trendline across the 4 peaks, which include May 2021. Looks like incredibly strong resistance around 50- 55. After seeing this, I was really tempted to sell a call spread but I want to wait for confirmation.
What do you think? I'm interested to hear your thoughts.
PS. great work on the chart!
zAngus
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@Market_Morph, thats REALLY interesting. Well spotted. I didnt take the trade as its headed the wrong way but does look very interesting on that longer timeline. Unusual. Wonder if it will be true to form and head back to the bottom again.
Market_Morph
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@Angusmck, That's a LONG way down if it does! It's on my watchlist now :-)
What do you think? I'm interested to hear your thoughts.
PS. great work on the chart!