Accuride Announces Earnings, Support Level Holds (ACW)

Accuride Corporation will be announcing Q1 2011 earnings on Tuesday and conducting a conference call the next day. It’s been a month since the manufacturer and supplier of commercial vehicle components debuted its Accu-Lite® lightweight aluminum wheel line at the Mid-America Trucking Show in Kentucky. Also Navistar, a holding company, recently named Accuride de Mexico its 2010 supplier of the year for outstanding sales in the aftermarket through Navistar’s dealer network. Good news for Accuride’s stock price which bounced off the support level in April, maybe signaling the 4-month downtrend’s ending and a forthcoming uptrend towards the all-time high of $16.34.

ACW stock price found support at $13 for the second time, which had been the resistance level back in November 2010. Although traded volume hasn’t increased, stock buyers have pushed the shares’ price back to the 20-day moving average. If you were quick enough and went on to buy the stock a week ago, the support level can be used for defining a tight stop loss, while anticipating an upwards movement.