Fluor Is Building a Base
After last month's steep selloff, Flour (FLR) appears to be basing. After its strong first-quarter report that showed an 11% jump in profit, the materials and construction company put in a spike high. The good news sparked a huge gap-higher open back on May 4, but by the end of the session, nearly all of the early 7% ramp had vanished.
Positive comments from JPMorgan offered little support as Fluor crashed through key support. One week later, the stock was 10% off its powerful earnings-inspired open while falling well below the 200-day moving average....267 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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