Infrastructure Bill helping Steel
Technical Analysis
We are breaking out to a 52-week high, with heavy volume (100%+ stronger volume intraday vs its 10-day average volume)
First measured move target is at $32, which is coincidental with a Fibonnaci 61.8% level.
OBV is supportive of the overall uptrend.
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Take a look at USCR (US Concrete) which is rallying in my opinion based on the same infrastructure scenario.
If you would like a chart analysis on this symbol, please let me know.
We are breaking out to a 52-week high, with heavy volume (100%+ stronger volume intraday vs its 10-day average volume)
First measured move target is at $32, which is coincidental with a Fibonnaci 61.8% level.
OBV is supportive of the overall uptrend.
~~~
Take a look at USCR (US Concrete) which is rallying in my opinion based on the same infrastructure scenario.
If you would like a chart analysis on this symbol, please let me know.
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