Skip to main content

The Globe and Mail

Bullish on packaging giant Crown Holdings

Crown Holdings Inc. traded in a large triangle formation from 2011 to 2012 (dotted lines) and then rallied to a high of $45.25 (A). Subsequently it settled in a large trading range mainly between $40 and $45 for about one year (dashed lines). Recent price action indicates renewed investor interest and the start of a new major up-leg (B). A minor correction may occur, but only a decline below $44-$45 would be negative.

Point & Figure measurements provide targets of $54 and $59. The large trading range (dashed lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. ( Ron Meisels is a contributor to the website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨