Skip to main content

Fluor Corp. FLR-N declined below a falling trend-line (dotted line) from US$60.60 in October, 2018, to US$16.25 in August, 2019 (A-B), and then settled in a bullish technical pattern known as an Inverse Head-and-Shoulders formation (solid lines). The recent price action above US$25 (dashed line) signalled a breakout from this pattern and the start of an up-leg toward higher targets (C).

Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. There is good support near US$22-US$23; only a sustained decline below this level would cancel the current upside potential.

Point & Figure measurements provide targets of US$34 and US$36. The large Inverse Head-and-Shoulders formation (solid lines) supports higher targets.

Open this photo in gallery:


Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication ( Chart source:

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Follow us on Twitter: @globeinvestorOpens in a new window

Report an error

Editorial code of conduct

Tickers mentioned in this story

Your Globe

Build your personal news feed

Follow the author of this article:

Check Following for new articles

Interact with The Globe