Fluor: Chart of the Week
We see a nice series of higher-lows and higher-highs in Fluor since the start of the year. The stock has been coming down on lower turnover recently, but I think this is a good time to check out the stock for a purchase. Maybe it’ll move back to the middle of the range and make a run to the top of the range.
The stock is about $36, so we could see it move up to $38 or $39. That’s a nice 10% move on a stock of this size.
As for the technicals, the MACD is rolled over here, which we’d expect to see when the stock is pulling back. Money flow is a little negative right now as well.
We’d like to see it hold this low from late Feb before we see it run higher.
Don’t miss a single one of Bob’s charts!
Get the Chart of the Week in your inbox every Wednesday morning!
