Fluor Corporation (NYSE: FLR)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services, and Power. The company also offers unionized management and construction services in the United States and Canada. Fluor Corporation was founded in 1912 and is headquartered in Irving, Texas.
Please take a look at the 1-year chart of FLR (Flour Corporation) below with my added notations:

FLR has held a very important level of support at $74 (blue) since October of last year. No matter what the market has done lately, FLR has not broken $74. Now the stock is approaching $74 again and that might provide another bounce higher. However, the stock’s recent creation of lower highs sure seems to imply an impending breakdown in the making.

The Tale of the Tape: FLR has a key level of support at $74. A trader could enter a long position at $74 with a stop placed under the level. If the stock were to break below the support, a short position would be recommended instead.
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