$CMC Friday's gap up candle completed a C&H pattern on the daily chart
MACD and RSI strong and supportive of the move up
Look to participate on either of : 1) retest and HOLD of the cup breakout line at 18.45 or 2) a breakout AND close above SEP high at 19.13
Measured target from the breakout of the pattern is around 22.21
$CMC Commercial Metals Company has been in a tight trading range for the last two months. It looks to be approaching a buy point at the lower support line of a long term bullish channel. I see 30%+ upside from this level by year-end possible, so long as the lower support line holds.
(Also of note, it seems like any stock with ticker C_C has done very well this...
Same concept but with different company name because I not publish a stock symbol twice. But in this case the gap is visible from a weekly chart
and this is no first time I publish this type of ideas and write the same things, because is the same Resistance breakout + Bullish gap
I share a variety of companies trading at different stocks prices with different PE...
Lower low at C, then a higher high at A, then a climactic lower low at C finding support at prior support level. An AC (Accumulation Volume) VSA bar, which is a down bar with a mid to up close on high volume, indicating strength. First target is the previous higher high with a R:R of 1:3.12. Second target is a measured move of the trading range with a R:R of...
Price was rejected at resistance. With a bearish engulfing candle as a confirmation.
CMC PE is 30.57 while the overall sectors PE is 23.90.
Waiting for another point of entry.
Commercial Metals Co. engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment manufactures finished long steel products including reinforcing bar, merchant bar, light structural and other special sections as well as semi-finished billets for re-rolling and forging applications. The Americas Fabrication segment includes rebar fabrication operations, fence post manufacturing facilities, construction-related product facilities and facilities that heat-treat steel to strengthen and provide flexibility. The International Mill segment manufactures rebar, merchant bar and wire rod as well as semi-finished billets. The company was founded by Moses Feldman in 1915 and is headquartered in Irving, TX.
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CMC
