Vulcan Materials (VMC) has been trading higher the past year and has just made a major upside breakout on the weekly Point and Figure chart.
I reviewed Vulcan Materials on May 12 and wrote that "Traders who went long VMC in April should raise stops to $175. Traders could add to longs on strength above $212. $259 and then $280 are my price targets now."
With share prices above $212, let's review the charts again of this Action Alerts PLUS holding.
In the daily bar chart of VMC, below, I can see that the shares have remained in a strong uptrend from their March low. Prices trade above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line continues to point upwards telling me that buyers of VMC are more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and bullish.