WOR has been under pressure over recent weeks since the company was hit with corruption allegations from Ecuador, they claim the global engineering group paid “improper benefits” to state-owned companies; perhaps somebody missed out when the cookie jar was passed around! On a more serious note, WOR has denied the allegations and is dedicating plenty of resources to proving their innocence. The company will report on the 28th of this month, if they perform well, the Ecuador allegations may have presented an excellent buying opportunity to investors.
- WOR has corrected 20% since its August high; technically, a clear break above $16.50 will be bullish, targeting a move to multi-year highs.
MM remains long and bullish towards WOR
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