U.S. Concrete (USCR) has been sinking lower and lower all year. Bounces have been short-lived and new lows have been made again and again. A retest of the lows of October could be seen in the months ahead.
In this daily bar chart of USCR, below, we can see that the slopes of both the 50-day moving average and the 200-day moving average are both negative. USCR is trying to stay above the 50-day line but it doesn't look that hopeful in this weak "tape".
The daily On-Balance-Volume (OBV) line has been mostly flat the past month which does not suggest we are seeing much in the way of aggressive buying.
The Moving Average Convergence Divergence (MACD) oscillator has climbed back to the zero line but looks like it is rolling over yet again.
In this weekly bar chart of USCR, below, we can see how much damage has been done on the charts. Prices have broken the lows of 2017 and 2016. USCR is well below the declining 40-week moving average line.
The weekly OBV line has been in a decline all year.
The weekly MACD oscillator is crossing to the upside for a cover shorts signal but it could reverse lower in the weeks ahead.
In this Point and Figure chart of USCR, below, we can see a downside price target around $31.
Bottom line strategy: USCR has suffered a big decline but it does not show signs of bottoming. Stand aside.