USCR looked down and out March 2020. Now with stimulus and infrastructure flooding the market USCR is on a tear. It seems so trade really orderly. No position but 2nd half of 2021 sell-off might give us a chance to get in between .618 fib and .786 again. Not sure where it goes now. *not trading advice
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. ~~~ Take a look at USCR (US Concrete) which is rallying in my opinion based on the same...
The deconstruction continues in material stocks. The culprit this time around was a poor reading and interpretation of construction spending. I think it was a big over-reaction given the overall trends. Deconstructing Materials Stocks. drduru.com $USCR $AYI $XLB
USCR has decent upside left in its 5th subwave of an extended ending diagonal pattern before it is due for a sharp trend reversal.