Dresser Rand (DRC) is a short.
April 29th hit an all time high of $55.88 (55 7/8) and yet also hit an intra-day low of $51.67.
High came first. That could be referred to as a bull trap. Or...exhaustion.
Broke the potent $50 round number on May 3rd.
Chart would suggest finding support at $42
Point & figure count suggests $38
Presently $47 1/4
Oh, Dresser doesn't "have" those abundant Ingersol Rand air compressers, just dark orange metal cheaper..........oops, I mean less expensive than CAT or Deere.
April 29th hit an all time high of $55.88 (55 7/8) and yet also hit an intra-day low of $51.67.
High came first. That could be referred to as a bull trap. Or...exhaustion.
Broke the potent $50 round number on May 3rd.
Chart would suggest finding support at $42
Point & figure count suggests $38
Presently $47 1/4
Oh, Dresser doesn't "have" those abundant Ingersol Rand air compressers, just dark orange metal cheaper..........oops, I mean less expensive than CAT or Deere.