We never know when or where we will find a good idea. We saw a chart of WorthingtonIndustries (WOR) this afternoon and something just clicked.
In this chart of WOR, above, we rallied from late February to make a new 52-week high. The price rally was accompanied by a rising On-Balance-Volume (OBV) line, positive and rising 50-day and 200-day moving averages, and finally, a bullish Moving Average Convergence Divergence (MACD) oscillator.
This longer-term chart of WOR is positive, with a rising 40-week moving average, a bullish OBV line on this tim frame and the MACD oscillator above the zero line. With this short-term and long-term constructive setup on the charts, we look for a rally to around $40 for WOR.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
Give your portfolio some credit and see which of these materials companies gets your interest: BHP Group, Dow Inc. or LyondellBasell.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.
