(Premium) December Industrials Outlook

The Industrials were a force to be reckoned with in October and November, but now they’ve reached the 2021 highs – the target we set last month.

Machinery stocks continue to look great. Deere is near all-time highs. Above 445 we want to be long with a target above 600. That’s the 1109% retracement from the 2018-2019 range, and the other Fibonacci levels from that range been helpful in identifying other areas of support and resistance.

Paccar just broke out to new highs as well. The risk level is 100, with a target of 135.

The post (Premium) December Industrials Outlook first appeared on Grindstone Intelligence.