The Globe and Mail
Crown Holdings (CCK-N, Monday’s close US$94.41) had an extensive decline from US$130.38 in March 2022 to US$66 in October (A-B) and then settled in a wide horizontal trading range mostly between US$70 and US$97 (dashed lines). The advance above the top of this range signaled a breakout and the start of a new uptrend toward higher targets (C).
Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. Crown Holdings recently pulled back toward its average (D) and now appears ready to resume the uptrend. There is good support near US$90-95; only a sustained decline below this level would cancel the current upside potential.
Point & Figure measurements provide targets of US$115 and US$125. The large trading range (dashed lines) supports significantly higher targets.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart, courtesy of www.LSEG.com