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Seasonal Stock Setup: Industrial with Strong January History Breaking Out

by | Jan 4, 2022

Fluor (FLR) – Fluor is a diversified industrial holding company that provides engineering, construction, fabrication as well as project management services. The stock has shown strong seasonal history for January going back the last 5 years being up 4 of those 5 occurrences for an average return of +7.9%. This is strong performance for a lower beta value name in the Industrial group. The XLI sector has seen an average gain for January of nearly 3% in that same 5 year span. The stock has had a nice rally to end 2020 riding its up trending stacked moving averages into the 25 level. Looking at the longer term weekly chart shows an open gap up into 30 and a logical target on the upside were this trend to continue higher. FLR has not seen two consecutive days closing under the 21 EMA since early October and that would likely be a good short term exit if occurred. As the market sorts out its rotations between sectors in January, it looks like value names still have potential to see money flows. This is also evident based on the large options action FLR saw today with a buyer active for 10,000 of the January 2023 $37.50 calls, a more than $2.1M purchase. 

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