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DIRTT Environmental (Friday’s close $7.71) had a sharp rise from $3.38 to $9.19 in the first half of 2015 (A-B) and then traded in a horizontal trading range mostly between $4.50 and $7.50 for the subsequent three years (dashed lines). The ensuing rise above $7.50 signalled a breakout from this range (C) and the start of a new up-trend (solid line).

The stock is currently in the midst of a minor correction, but only a sustained decline below ±$7.00 would be negative.

Behaviour indicators including the rising 40-week Moving Average (40wMA) and the rising trend-line (solid line) confirm the bullish status.

Point & Figure measurements provide targets of $11 and $12. The large trading range (dashed lines) supports higher targets.

Open this photo in gallery:

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Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: decisionplus.com

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 07/11/24 3:57pm EST.

SymbolName% changeLast
DRT-T
Dirtt Environmental Solutions Ltd
-4.4%0.87

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