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.