Vulcan Materials Company (NYSE: VMC)

Vulcan Materials Company produces and sells construction aggregates, asphalt mix, and ready-mixed concrete primarily in the United States. It operates through four segments: Aggregates, Asphalt Mix, Concrete, and Calcium. The Aggregates segment offers crushed stone, sand and gravel, sand, and other aggregates, as well as related products and services. The Asphalt Mix segment offers asphalt mix in Arizona, California, and Texas. The Concrete segment produces and sells ready-mixed concrete in Georgia, Maryland, New Mexico, Texas, Virginia, Washington D.C., and the Bahamas. The Calcium segment mines, produces, and sells calcium products for the animal feed, paint, plastics, water treatment, and joint compound industries.
Take a look at the 2-year chart of Vulcan (NYSE: VMC) below with my added notations:

Over the past 3 months VMC has created a key level of support (red) at $85. That line is also the “neckline” for the stock’s head and shoulders (H&S) reversal pattern. Above the neckline you will notice the H&S pattern itself (blue). Confirmation of the H&S would occur if VMC breaks the support, and lower prices would be expected from there.

The Tale of the Tape: VMC has formed a head & shoulders pattern. A long trade could be made at $85 with a stop placed below that level, but ideally, the pattern implies a short trade to be entered on a break below that level instead.