Chart Industries (GTLS) sounds like a company that every technical analyst would want to analyze but in reality it is a manufacturer of highly engineered equipment for the energy and industrial gas markets.
Let's pay a visit to the charts and indicators.
We last wrote about GTLS on Jan. 10, 2020 and recommended going long with a $64 stop. A rally was quickly ended with the pandemic-related market decline.
In the daily bar chart of GTLS, below, we can see that the shares have rallied the past 12 months. GTLS has traded sideways since February but that period of consolidation may be coming to an end. The stock has been trading around the 50-day moving average line. The slope of the 200-day line is positive and intersects are $115.
Trading volume looks like it has diminished since February. The On-Balance-Volume (OBV) line has been positive the past 12 months and remained steady during this sideways phase. The Moving Average Convergence Divergence (MACD) oscillator is bearish but that could change quickly.