It's Not That Easy Being Greenbrier

Without question, plenty of tech and medical tech plays are front and center as part of today's market leadership. More than quite a few of those names are attempting to emerge from tight, multi-week base consolidations to set in motion fresh legs higher this summer. Indeed, we will cover those names coming up in my usual Midday Video for Members. 

But we should not neglect some of the standouts across other sectors, too. 

Greenbrier Companies Inc., an industrial in the transportation space related to railcar parts, has done everything an emerging swing long trade idea should do, namely breaking above a well-defined base of its own with tough resistance, then checking back to the breakout point the last two sessions. 

Today, however, GBX is reacting nicely to that breakout point, trying to convert it from resistance into newfound support. Naturally, this is a basic tenet of technical analysis and typically a rather bullish development. 

Greenbrier is also commendable given how spotty the transports have been as a whole this summer. But if the group can sustain a move higher the rest of this month, I expect GBX to outperform with ease, with $56 being the next hurdle to clear above.