Florida Rock Industries Inc. (FRK) Shows Promise Fundamentally and Technically
Last week I wrote an article about recognizing the ascending triangle chart pattern. A good example of this pattern could be found in Florida Rock Industries (FRK). FRK is composed of three main business segments, all of which are doing well. These three segments include construction aggregates, concrete products and cement and calcium products. I had a chance to listen in on their most recent conference call and was very impressed as they posted record earnings and revenue in many different areas of the business and continue to hold a very bright future outlook.
On top of this the stock is in the Capital Goods/Construction - Raw Materials sector (.CRM) that has held and continues to hold strong institutional interest. If you didn't happen to catch the chart pattern (ascending triangle) before the run up to earnings day then you had another good chance to get in on the recent throwback that confirmed support between 59-60. FRK also shows great fundamentals and is an industry leader. A solid group, price and EPS rank make the stock that much more attractive to me and I look forward to watching this one continue its uptrend in the coming months.