The StockCharts Technical Rank (SCTR) for Vulcan Materials surged above 50 to record the second biggest SCTR gain among S&P 500 stocks. On the price chart, the stock broke resistance with the Septmeber surge and broken resistance turned support as a bull flag formed. A break above flag resistance would signal a continuation higher.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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