President Trump's pledge to spend a trillion dollars to build and repair America's highways, bridges and tunnels and other construction projects, is predicted by many analysts on Wall Street to help stocks in the heavy construction industry. These include; Argan Inc. (AGX) , Dycom Industries (DY) , EMCOR Group (EME) , Comfort Systems (FIX) , Granite Construction (GVA) and Jacobs Engineering (JEC) .

While gains since the election had been strong, these stocks have declined from their post-election highs, primarily on negative reactions to earnings reports. I will show updated weekly charts and the value levels at which to buy on weakness, and the risky levels at which to sell on strength.

Argan provides engineering, construction and management services primarily to the power-generation and renewable-energy industries. The stock gained 40.9% from its post-election low to its post-election high, but this gain has been slashed to 16.9% since its Jan. 25 high of $76.70. This has the stock in correction territory 17% below the high.

Dycom Industries provides contracting services such as construction, maintenance, and installation services. The stock gained 40% from its post-election low to its post-election high, but this gain has slipped to 28.1% since its March 2 high of $98.47.

EMCOR provides general electrical and mechanical construction services. The stock gained 21.2% from its post-election low to its post-election high, but this gain has evaporated as the stock set a fresh post-election low of $60.48 on Tuesday.

Comfort Systems provides general mechanical and maintenance services. The stock gained 39.7% from its post-election low to its post-election high, but this gain has slipped to 23.6% since its Feb. 27 high of $39.67.

Granite Construction is a heavy civil engineering contractor and construction materials provider. The stock gained 27.5% from its post-election low to its post-election high, but this gain has evaporated as the stock set a fresh post-election low of $45.22 on Tuesday.

Jacobs Engineering provides technical, professional and construction services. The stock gained 29% from its post-election low to its post-election high, but this gain has collapsed to 10.9% since its Nov. 30 high of $63.42.

Here's a scorecard for the six infrastructure stocks followed by their weekly charts and key trading levels.

 

Argan Inc.

Courtesy of MetaStock Xenith

The weekly chart has been negative since the week of March 10, with the stock below its key weekly moving average of $68.67. Weekly momentum is projected to decline to 41.21 this week. Buy weakness my annual value level of $53.55. The stock slipped below my semiannual pivot of $64.47. Sell strength to my weekly risky level of $71.44.

Dycom Industries

Courtesy of MetaStock Xenith

The weekly chart is positive with the stock above its key weekly moving average of $87.83. Weekly momentum is projected to end the week rising to 74.10. Buy weakness my annual value level of $71.10. The stock slipped below my semiannual pivot of $90.53. Sell strength to my weekly risky level of $95.31.

EMCOR Group

Courtesy of MetaStock Xenith

The weekly chart has been negative since the week of Feb. 24, with the stock below its key weekly moving average of $64.77. Weekly momentum reading is projected to decline to 25.90 this week. Buy weakness my annual value level of $53.14. The stock slipped below my annual pivot of $65.08. Sell strength to my semiannual risky level of $67.32.

Comfort Systems

Courtesy of MetaStock Xenith

The weekly chart shifts to negative given a close on Friday below its key weekly moving average of $35.49. 33.29. Weekly momentum is projected to decline to 62.70. Buy weakness my annual value level of $29.32. The stock slipped below my semiannual pivot of $36.23. Sell strength to my weekly risky level of $38.14.

Granite Construction

Courtesy of MetaStock Xenith

The weekly chart has been negative since the week of Feb. 3 with the stock below its key weekly moving average of $51.72. Weekly momentum is projected to decline to 26.04 this week. Buy weakness my annual value levels of $37.88 and $32.59. The stock slipped below my semiannual pivot of $49.20. Sell strength to my weekly risky level of $50.47.

Jacobs Engineering

Courtesy of MetaStock Xenith

The weekly chart has been negative since the week of Feb. 10 and is now oversold with the stock below its key weekly moving average of $56.40. Weekly momentum is projected to slip to 16.77 this week falling below the oversold threshold of 20.00. Buy weakness my annual value level of $47.51. Sell strength to my semiannual risky level of $60.20, which was tested on Jan. 25.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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