Two Breakout Candidates in Industrials
Two companies whose businesses include the manufacture and management of industrial goods and components have completed strong basing-price action and are moving above technical resistance today.
The first potential breakout candidate is Foster Wheeler Corp. (FWLT), a stock that has dropped precipitously off its 2011 high, down more than 56% at its October low. It has been able to hold above that $17 level and take out the steep long-term trendline and its 50-day moving average. The Relative Strength Index (RSI) has been tracking steadily higher for the past month, and both the daily and weekly MacD have made positive crossovers....362 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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