Stock Analysis: Strong Growth Stock Technical Setups

Technical Rating and Analysis

Overall TREX gets a technical rating of 5 out of 10. In the last year, TREX was one of the better performers, although we are getting mixed signals now in both the short and medium term time frames.

When comparing the yearly performance of all stocks, we notice that TREX is one of the better performing stocks in the market, outperforming 87% of all stocks. On top of that, TREX also shows a nice and consistent pattern of rising prices.

TREX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so TREX is lagging the market slightly.

The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

TREX is part of the Building Products industry. There are 43 other stocks in this industry, TREX did better than 64% of them.

In the last month TREX has a been trading in the 84.69 - 94.00 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Volume is considerably higher in the last couple of days.

More info and screens

Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

Show peers with best TA rating

Weekly and Daily overview Charts

Setup Rating and Analysis

TREX has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 87.45, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for TREX in the last couple of days, which is a good sign.

Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

More info and screens

ChartMill Technical Ratings

Pocket Pivots

Bull Flags

Show peers with best setup rating

Support and Resistance Analysis

52.40

101.10

When analyzing the support we can see 4 important areas.

A support zone ranging from 87.38 to 87.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @62.73 from a trend line in the weekly time frame.
Support @56.12 from a trend line in the weekly time frame.
Support @52.93 from a horizontal line in the weekly time frame.

We can see 4 important resistance areas.

Resistance @88.13 from a trend line in the daily time frame.
A resistance zone ranging from 89.59 to 89.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 91.95 to 92.79. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 99.75 to 100.10. This zone is formed by a combination of multiple trend lines in multiple time frames.