Terex Corporation operates as an equipment manufacturer of
specialized machinery products. Its Aerial Work Platforms segment
designs, manufactures, refurbishes, services, and markets aerial work
platform equipment, telehandlers, light towers, bridge inspection
equipment, and utility equipment, as well as related components and
replacement parts under the Terex and Genie brands. The company's
Construction segment offers off-highway trucks and material handlers;
loader backhoes, compaction equipment, mini and midi excavators, site
dumpers, compact track loaders, skid steer loaders, wheel loaders, and
tunneling equipment. Its Cranes segment designs, manufactures, services,
and markets mobile telescopic cranes, tower cranes, lattice boom
crawler cranes, lattice boom truck cranes, and truck-mounted cranes, as
well as related components and replacement parts. The company's Material
Handling & Port Solutions segment offers industrial cranes, such as
standard cranes, process cranes, rope and chain hoists, electric
motors, light crane systems, and crane components. Its Materials
Processing segment provides materials processing equipment, such as
crushers, washing systems, screens, apron feeders, and chippers.
To review potential trading opportunities with Terex's stock, please
take a look at the 1-year chart of TEX (Terex Corporation) below with my
added notations:
TEX appears to have formed a double top price pattern (blue) from
January though mid-June. Double tops are reversal patterns and are as
simple as they sound: Rallying up to a point (T), selling off to a
support, and then rallying back up again to approximately the same top
(T). As with any price pattern, a confirmation of the pattern is needed.
TEX confirmed its pattern by breaking the $27.50 support (teal) that
was created by the double top pattern.
The Tale of the Tape: TEX has broken down from its
double top and should be moving lower overall. A short trade could be
made on any rallies back up to $27.50, while a long trade could be made
if the stock were to break back above the $27.50 level.
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