[Premium] Trade Of The Week

JC Parets
September 12, 2022

The stock we're looking at this week is part of the Industrial Manufacturing sector. Let's examine which name has made it to our scan this time. Also, check out our latest post on Industrial Manufacturing stocks paving the way for the next leg of the rally!

Action Construction Equipment Ltd is one of the constituents of the Industrial Manufacturing sector that is displaying strength on an absolute and relative basis. The price broke out above its resistance zone of 287 last week and closed above the same level. The price had been moving sideways since mid-2021 but has also moved out of that base.

The indicator is firmly placed in bullish momentum territory, supporting the breakout in price.

We are bullish above the risk management level of 287, with a target close to 445.

Click on the chart to zoom in.

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Allstarcharts Team

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