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Texas Industries Crosses Below its 10-day MA (TXI)

Published on Wed, 01/23/2013 - 12:14
By Adrienne Chilton

Today, shares of Texas Industries (NYSE:TXI) have crossed bearishly below their 10-day moving average of $57.37 on a volume of 105K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Texas Industries (NYSE:TXI) is currently priced 10.0% above its average consensus analyst price target of $51.50. The stock should find initial support at its 50-day moving average (MA) of $49.88 and further support at its 200-day MA of $41.45.

In the past 52 weeks, Texas Industries share prices have been bracketed by a low of $30.10 and a high of $58.50 and are now at $57.21, 90% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.0%.

Texas Industries, Inc. and its subsidiaries supply construction materials such as cement, aggregate, and concrete products. The Company's customers include the construction, original equipment manufacturers, tool, and country goods markets.

By Adrienne Chilton
achilton@fnno.com