Trinity Industries Inc (NYSE:TRN) has been nicely consolidating in a flag pattern for the past 6 weeks and now is moving toward the top of that consolidation area. If the upper line of this flag formation is broken in the next
couple of sessions, it could lead to new momentum and a move toward the 30-32 range. I expect continuation of current momentum and a further breakout above the 52-week high at $29.31. Major daily technical indicators are at their neutral zones, and showing a potential new upward momentum. On watch.
This is a guest post by António Costa, acclaimed trader and the popular author of AC Investor Blog. All views and analysis belong to the author.