Aug. 12 at 6:55 PM
$ACM The market is pricing in a lot of damage after the Q3 project charge, but the underlying business still looks solid: record backlog, continued growth in the core design business and management maintaining its underlying earnings outlook.
Technically, the
$61.90-
$62 area is getting interesting too. Heavy volume, but price has spent hours absorbing the selling rather than continuing to collapse.
If
$62 holds and ACM starts reclaiming
$64-
$67, this could turn into a very attractive mean-reversion setup. Risk is obvious, but at these levels the upside looks increasingly asymmetric.
Bullish on the risk/reward from here.
