Shares of Texas Industries are trading down 3.2% to $63.90 today on above average volume. About 463,000 shares have been traded today, as compared to the 30-day average volume of 269,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
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.
Texas Industries (NYSE:TXI) defies analysts with a current price ($63.90) 14.7% above its average consensus price target of $54.50. The stock should find initial support at its 50-day moving average (MA) of $60.49 and further support at its 200-day MA of $47.67.
Over the past year, Texas Industries has traded in a range of $30.10 to $67.44 and is now at $63.90, 112% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 0.9%.