Wednesday, February 14, 2018 11:43:48 AM
Terex Corp (NYSE:TEX) manufactures capital equipment for the construction, infrastructure, mining and transportation industries. Last night, the company reported earnings and the stock is falling lower today. Currently, TEX stock is trading down by $1.75 to $41.18 a share. Traders should note that the stock is also trading below its 200-day moving average. This puts the stock in a weak technical position on the charts and signals further downside near term. The next major support level for TEX stock will be around the $38.00 level. This is where the stock broke out in early September 2017. Often, institutional traders will step in and defend the equity around this level when it is retested. I will be waiting for TEX stock to test this area before trading the stock on the long side.
Nicholas Santiago
InTheMoneyStocks
Recent TEX News
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