Head and shoulders on the daily chart. Neckline around 66. This is either a buy point or the sign to buy.
High of 76 tested a few times over the last few weeks. H&S could lead to $56, $60, or $63. Support ranges.
Nibble all the way down...?!
TREX looks buyable here as it breaks through the pivot at $69.
TREX is a building products company - specifically decking materials. Construction and related stocks have surged the last several weeks after Wall Street interpreted the latest Fed meeting as a pivot away from raising rates. the 10-yr bond yield has fallen 0.50% over the last few weeks and mortgage...
Keeping this post real simple on NYSE:TREX
Red horizontal lines are basically my 1st and 2nd targets to be hit.
This is only if market continues to see a rally in stocks, if the market dumps, this will most likely be invalidated.
I would love to play options on this, but the OI on TREX options is so scarce I wouldnt like to have to play the spread.
The weekly chart for TREX shows that price appears to remain bounded by the upper band (red) and basis (white) of the Fibonacci Bollinger Bands as it has since the Great Recession. The price is looking ready for a bounce. The oscillators are too oversold on the monthly chart to support a high probability that TREX will drop sharply below the white level. Therefore...
Housing is back in the doghouse… But springtime is coming around!
TREX is at ~$66 today, but if COVID is over, so then its PS and PE are too high:
- PS: 6.34 vs 5.00 = 21% downside
- PE: 36.542 vs 30.00 = 18% downside
So, let’s call it 20% downside to go, so $66 --> $52.8
Targets are somewhat arbitrary, but I love directional accuracy and coincidences. 20%...
Heikin-Ashi candles provide a simple method to incorporate averaging into price action analysis by making candlesticks themselves averaged. This causes candles to have a smoothened and continuous look making them easier for some to visualize trends.
Heiken Ashi candlesticks do not show a shadow in the OPPOSITE direction of the trend like typical Japanese...
Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. If inflationary pressure remains, and homes continue to get built, this could be a major winner.
* Very strong earnings year over year
* Very strong up trend
* Broke out of a 6 month consolidation
* Consolidating right above broken level and attracting more volume
Trade Idea:
* Now would be a great time to get in as it's building a new base right above the broken level.
* If you are looking for a discount, there is a slight chance of it visiting the $109...
This is another example of a running flat. I know the candle sticks wont follow the exact patterns but it helps one with forecasting. The yellow highlighted patterns are called bars pattern. Its a great tool and one of my favorites.
1. Above 9 MA 2. MACD is bearish but I believe it's going to be short-lived 3. An optimistic RSI 4. Stochastic buy signal 5. Earnings are approaching so...
$TREX passed the buy point of $132.84. It is ready for a new uptrend
12 months Consensus Price Target: $119.91
if you find my charts useful, please leave me "like" or "comment".
Please don't trade according to the ideas, rely on your own knowledge.
Thx
Hey investors, TREX COMPANY gives a buy signal, but it is possible that it will drop as soon as expected. See if buyers will regain control of the high volume of the previous day.
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