economy

February 2, 2026

This chemical stock has the potential for a big turnaround higher, says Katie Stockton

Katie Stockton takes a look at the materials sector, including one stock that could break out soon.

This chemical stock has the potential for a big turnaround higher, says Katie Stockton

TL;DR

  • The S&P 500 Materials Index gained 8.64% in January.
  • Dow Inc. (DOW) stock found support near $22 and established a potential major low.
  • DOW broke above its 200-day moving average and entered the weekly cloud.
  • The weekly MACD is turning positive, suggesting upside in the next 2-3 months.
  • Next major resistance is near $35.80, aligning with a Fibonacci retracement level.
  • Initial daily support is around $25.50, aligning with the 200-day moving average.
  • A stop-loss below $25.50 is recommended to manage risk.
  • DOW is emerging from a long-term base with improving momentum.

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