Commercial Metals Co. ( CMC) is definitely not a household name but they are the largest producer of rebar in the United States. The company manufactures, and recycles many other steel and metal products. The charts of CMC are bullish and perhaps tell us something about one company that could benefit from all the future investment in infrastructure. Let's check out the charts. 
In this daily bar chart of CMC, below, we can see an "ascending triangle pattern" playing out since August. Prices have been making higher lows from September but the same highs in the $36-$37 area in August and November. Triangle patterns tend to breakout 2/3 to 3/4 of the way through the pattern so we should be on-guard for a breakout. CMC is trading above the rising 50-day moving average line. The rising 200-day moving average line was successfully tested earlier this month.
The On-Balance-Volume (OBV) line shows strength from the middle of September and is close to its own new high. The trend-following Moving Average Convergence Divergence (MACD) oscillator recently crossed above the zero line for a new outright buy signal.
In this weekly Japanese candlestick chart of CMC, below, we can see two tests of the rising 40-week moving average line. The triangle pattern mentioned in the paragraph above can be seen here too. The weekly OBV line is bullish and so is the MACD oscillator.
In this daily Point and Figure chart of CMC, below, we can see a potential upside price target in the $51 area.
In this weekly Point and Figure chart of CMC, below, we see that the software is projecting a $57 price target.
Bottom line strategy: Traders could go long CMC at current levels and on strength above $37. Risk to $32 for now. The $51 area and then the $57 area are our price targets.
