AECOM provides professional technical and management support services
for public and private clients worldwide. The company operates through
two segments, Professional Technical Services (PTS) and Management
Support Services (MSS). It offers planning, consulting, architectural
and engineering design, and program and construction management services
for a range of projects, including highways, airports, bridges, mass
transit systems, government and commercial buildings, water and
wastewater facilities, and power transmission and distribution. The
company also provides program and facilities management and maintenance,
training, logistics, consulting, technical assistance, and systems
integration services primarily for agencies of the U.S. government. It
serves transportation, facilities, environmental, energy, water, and
government markets.
Take a look at the 1-year chart of Aecom (NYSE: ACM) below with my added notations:
Over the last 8 months ACM has formed an inverse head and shoulders
reversal pattern (green). I have noted the head (H) and the shoulders
(s) to make the pattern more visible. The stock’s neckline resistance is
at the $34 level (Red). ACM will confirm its H&S by breaking
through the neckline.
Keep in mind that simple is usually better. Had the inverse H&S
pattern never been pointed out, one would still think ACM was moving
higher simply if it broke through the $34 resistance level.
The Tale of the Tape: ACM has formed an inverse head & shoulders pattern. A long trade could be entered on a break through the $34 level.
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