Titan International, Inc., together with its subsidiaries, engages in the manufacture and sale of wheels, tires, and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction, and consumer markets in the United States and other countries. The company provides rims, wheels, tires, and undercarriage systems and components for various agricultural and forestry equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment; and for various types of off-the-road earthmoving, mining, military, and construction equipment comprising skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks, and backhoe loaders. It also offers truck tires; wheels and tires; and assembles brakes, actuators, and components for the boat, recreational, and utility trailer markets, as well as a range of products for all-terrain vehicles, turf, and golf car applications. The company sells its products directly to original equipment manufacturers, independent distributors, equipment dealers, and distribution centers.
Please take a look at the 1-year chart of TWI (Titan International, Inc.) below with my added notations:
TWI has had a rough go of it over the last 9 months, to say the least. In a market that insists on going higher, TWI has continued to break lower. From June til mid-September the stock formed a clear support at $16 only to break lower yet again. Since that break, the stock has been resisting that same $16 area and appears to be approaching that level again.
The Tale of the Tape: TWI is approaching $16 again. Traders could enter a short trade at $16, while a long trade could be made on a break back above that level with a stop placed below it.
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