Chicago Bridge & Iron Company N.V. provides conceptual design,
technology, engineering, procurement, fabrication, construction, and
commissioning services to customers in the energy, petrochemical, and
natural resource industries worldwide. The Steel Plate Structures
segment offers engineering, procurement, fabrication, and construction
services, including mechanical erection services for the hydrocarbon,
water, and nuclear industries. The Project Engineering and Construction
segment provides engineering, procurement, fabrication, and construction
services for upstream and downstream energy infrastructure facilities.
The Lummus Technology segment offers licenses, services, catalysts, and
proprietary equipment for the hydrocarbon refining, petrochemical, and
gas processing industries.
To review Chicago’s stock, please take a look at the 9-month chart of
CBI (Chicago Bridge & Iron Company N.V.) below with my added
notations:
CBI has been trading sideways for the last month or so. Over that
period of time, the stock has formed a clear resistance level at $80
(blue). In addition, the stock has also created a strong level of
support at $75 (green) that has held since the 2nd week of November. At
some point the stock will have to break one of those two levels.
The Tale of the Tape: CBI has clear levels of
support ($75) and resistance ($80). The possible long positions on the
stock would be either on a pullback to $75, or on a breakout above $80.
The ideal short opportunity would be on a break below $75.
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At that period of time, the stock has formed a clear resistance level at $80 (blue). The possible long positions on the stock would be either on a pullback to $75, or on a breakout above $80. Let see what will be exactly.
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Komatsu Parts