This morning, leading supplier of crushed stone, gravel and sand, Vulcan Materials Co (NYSE:VMC), is falling lower after reporting earnings. The shares of VMC are trading lower by nearly 4.0% after the company issued guidance that failed to impress Wall Street. The stock is still trading above it’s important 200-day moving average which is currently around the $130.00 level.

A break below this key support area would likely trigger more institutional selling. One major support level that catches my eye is around the $120.00 area. This is where the stock broke out in early April 2019. Often, stocks will be defended around their prior breakout levels when initially tested.