Building products supplier BLD has rallied strongly post COVID acting like a perfect proxy for the recovery trade. The companies report earlier in the month showed strong performance by its North American fly ash business, a product used to improve the durability of concrete. With Joe Biden pledging $US2 trillion to upgrade the country’s infrastructure demand looks set to stay strong through 2021 and 2022. There are no signs of failure but considering our market caution at this point in time identifying levels to buy a pullback to enter feels more logical, particularly as Kerry Stokes creeps up the register.
MM likes BLD into a ~10% pullback
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