We’ve talked about boring businesses several times.
We know that boring can sometimes equal big moves.
But trains?
Can we really make money on train companies?
Wabtec (WAB) is a manufacturer of value-added equipment for locomotives.
It makes choo-choo equipment!
But here’s the chart:
WAB has been on fire for most of 2024 and, after a short pullback, it’s chugging toward a new high and a breakout.
A move above $170.83 could lead to a big journey down a long track.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
