$TEX – Terex Corporation – last closed at $20.48 – Bullish (Short term)
Terex Corporation is a lifting and material handling solutions company. The Company is focused providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, transportation, energy and utility industries.
We saw a massive 36.44% surge in the price of Terex yesterday with a huge trading volume!
Terex had previously announced its merger with Finnish Konecranes. It received an unsolicited bid from Zoomlion, one of China’s biggest Crane manufacturer, resulting in the sudden surge in the market prices. Adding to that, TEX breached its 50 day moving average in a bullish manner yesterday. We believe that Terex may have bullish market sentiments for the short term.