#brokeout #stock #bullish #cash #infrastructure #concrete #pipe #expansion #support #resistance #precast #water #management
Forterra, Inc. (NASDAQ:FRTA) broke out on 15 June at 9.79 and confirmed it on 30 June at 11.16, it closed Monday at 12.37 Vs its 52 wk high at 15.42. The Street’s consensus is 11.60 now.
Forterra is underappreciated, it is a national infrastructure expansion story with catalysts that could drive it North 70 to 100% by mid-2021. So, my early call is 26/share today. I am Bullish across the board, as all Key indicators are Very Bullish.
The stock has Strong Support at 9.79 and light resistance thru 19.00, then Nil.
Forterra, Inc. manufactures and sells pipe and precast products the United States, Canada, and Mexico.
It operates through Drainage Pipe & Products; and Water Pipe & Products segments.
The company offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.
It provides box culverts, utility vaults, manholes, drainage inlets, and pipe end sections used for roadway and airport drainage, stormwater management, utility construction, and water treatment and filtration systems, and architectural panels for buildings, modular railroad crossings, retaining wall and stormwater treatment systems, highway noise barriers, and concrete vaults that are used to house dry or wet utilities.
The company offers hollow-core planks, prestressed bridge girders, beams, columns, wall panels, stairs, garage floors, and architectural claddings for infrastructure and non-residential applications; and precast concrete bridge girders for highway projects.
It provides precast concrete foundation to support prefabricated shelters or equipment buildings, precast product that consolidates and protects underground electrical and communication cables, and stormwater technologies for storm water management market.
The company offers ductile iron pipes for transmission and distribution of potable and wastewater, and smaller diameter applications, concrete pressure pipes for water transmission and distribution, power plant cooling water lines, sewage force mains for waste and stormwater, and other various applications; and prestressed concrete and bar-wrapped concrete pipes.
It serves construction contractors, developers, utility companies and contractors, municipalities, and waterworks distributors and contractors through distributors.
The company was founded in Y 1899 and is HQ’d in Irving, Texas.
Have a healthy day, Keep the Faith!
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