The materials group is attempting to CLOSE above the round 60 number as the XLB as the ETF flirted with the figure on 11/30 and 12/4 and again on 12/18, and is why we rely on end of the session prices. A finish above could propel the fund to new heights. It is heavily weighted toward DWDP, but other names in the XLB are acting well near the round figures. SHW recently broke above a cup base trigger of 398.32 on 11/30 and has held the very round 400 number very nicely the last month testing it precisely a couple times. Below we take a look at AA and how we profiled the name just below in our 11/30 report and then take a current look.
This is how we looked at AA in our Thursday 11/30 Game Plan. It is now 9% higher from the suggested trigger.
Stocks that can be bought at the round numbers are AA. AA is a materials play higher by 47% YTD and 30% over the last one year period. Earnings have been mixed with gains of .6 and 9.5% on 7/20 and 4/25 and losses of 2.5 and 2.6% on 10/19 and 1/25. The stock is lower 4 of the last 5 weeks and 18% off most recent 52 week highs, but the last 2 recorded bullish hammer candles at the round 40 number. Notice how the round numbers have come into play with a 15 of 18 week winning streak weeks ending between 6/23-10/20 traveling from the 30 to 50 figure. AA broke above a 39.88 cup base trigger that began the week ending 2/17 and taken out the week ending 8/25. It was successfully retested on 11/21 and enter just above the round 40 number at 41.
Trigger AA 41. Stop 38.80.
Taking a present look at the name the materials play now higher by 59% YTD and 52% over last one year period. Its chart is taking on a nice complexion as last week rose 2.9%, and this week higher by 4.6% thus far. The prior 4 weeks before that, ending between 11/17-12/8 all touched the 40 handle intraweek and the figure held firm. Remember it defended that long cup base trigger of 39.88 and always good to see former resistance become support. That bounce has given the name confidence and look for a move above the round 50 number, which recorded just one CLOSE above on 10/24, adding above a 50.41 cup base trigger.
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The materials group is attempting to CLOSE above the round 60 number as the XLB as the ETF flirted with the figure on 11/30 and 12/4 and again on 12/18, and is why we rely on end of the session prices. A finish above could propel the fund to new heights. It is heavily weighted toward DWDP, but other names in the XLB are acting well near the round figures. SHW recently broke above a cup base trigger of 398.32 on 11/30 and has held the very round 400 number very nicely the last month testing it precisely a couple times. Below we take a look at AA and how we profiled the name just below in our 11/30 report and then take a current look.
This is how we looked at AA in our Thursday 11/30 Game Plan. It is now 9% higher from the suggested trigger.
Stocks that can be bought at the round numbers are AA. AA is a materials play higher by 47% YTD and 30% over the last one year period. Earnings have been mixed with gains of .6 and 9.5% on 7/20 and 4/25 and losses of 2.5 and 2.6% on 10/19 and 1/25. The stock is lower 4 of the last 5 weeks and 18% off most recent 52 week highs, but the last 2 recorded bullish hammer candles at the round 40 number. Notice how the round numbers have come into play with a 15 of 18 week winning streak weeks ending between 6/23-10/20 traveling from the 30 to 50 figure. AA broke above a 39.88 cup base trigger that began the week ending 2/17 and taken out the week ending 8/25. It was successfully retested on 11/21 and enter just above the round 40 number at 41.
Trigger AA 41. Stop 38.80.
Taking a present look at the name the materials play now higher by 59% YTD and 52% over last one year period. Its chart is taking on a nice complexion as last week rose 2.9%, and this week higher by 4.6% thus far. The prior 4 weeks before that, ending between 11/17-12/8 all touched the 40 handle intraweek and the figure held firm. Remember it defended that long cup base trigger of 39.88 and always good to see former resistance become support. That bounce has given the name confidence and look for a move above the round 50 number, which recorded just one CLOSE above on 10/24, adding above a 50.41 cup base trigger.
If you like what you read why not visit www.chartsmarter.com