Lubrizol (LZ) Greasing The Upside
Chemical manufacturers are looking good this week, with a number of these early cyclical issues challenging their recovery highs. Lubrizol (LZ) is a top pick in the sector.
The stock topped out ahead of the broad market in early 2007 and fell to a seven-year low at 23 in March, It then surged higher, lifting above the 200-day moving average in April. The rally stalled at 46 about two weeks later, with the stock dropping into a triangle pattern. It’s been congesting near the pattern highs for the last five sessions and could break out at any time.
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