stock
Fluor (FLR-N, Friday’s close US$56.16) has been in a major uptrend above its rising 40-week Moving Average (40wMA) since 2021, and we have recommended the stock on two other occasions during that period. It reached a high of US$60.10 in November, 2024 (A), before breaking decisively below its 40wMA (B), signalling the end of that up-leg.
The stock subsequently formed a large triangle pattern defined by higher lows and lower highs (dotted lines) as it fluctuated around its 40wMA. The recent move above the upper boundary of the triangle suggests a breakout from this consolidation and the beginning of a new up-leg toward higher targets (C). A sustained move above the US$55–56 area would confirm the breakout.
There is solid support near US$49-50. Only a sustained decline below US$47-48 would undermine the long-term positive outlook.
Point & Figure measurements provide initial targets of US$62 and US$67. Higher targets are visible.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart, courtesy of www.LSEG.com