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Granite Construction awarded SR 202 widening and trestle replacement contract after stock ends session up 1.9%
Granite Construction has secured a $16 million contract for the SR 202 Widening and Trestle Replacement Project in Woodinville, Washington. Granite Construction stock is up 1.9% on the day at $110.48.
Highlights
- Granite Construction secured a $16 million contract for the SR 202 Widening and Trestle Replacement Project in Woodinville, Washington, with work beginning in Q4 2026.
- Granite Construction stock is up 1.9% on the day at $110.48.
- 14 of 18 analysts rate the stock a buy, with a median price target of $177.5 about 60.6% above the current level.
Granite Construction has been awarded the SR 202 Widening and Trestle Replacement Project in Woodinville, Washington. The contract is valued at approximately $16 million, according to FinancialContent. Work will begin in Q4 2026, with completion expected in Q4 2027, according to Stock Titan.
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Advance meets resistance as bearish setup persists below key averages
Price is sitting right at resistance from the weekly high at $111.01. Shares of Granite Construction have advanced to this area despite continuing to trade below their MA-20, MA-50, and MA-200, keeping the broader daily chart in a bearish posture. Stoch RSI is nearing overbought territory, suggesting the current advance could be getting stretched as buyers test the upper boundary.
Odds tilt to the downside as traders watch for a close above resistance
To gauge whether this move is being fully reflected in price, traders should watch for a close above $111.01 to show buyers are willing to follow through. The session opened with a gap up from the previous close of $108.38 to $109.59, highlighting increased interest at the open. Even so, over the next five trading days, there is a 27% probability of upside versus 73% downside, with an expected trading range between $107.55 and $113.4. A drop below $104.47 would show the move is being faded. On the weekly chart the longer-term picture stays firmly negative.
In a recent review, analysts noted that Granite Construction was exhibiting persistent bearish momentum with limited prospects for a near-term reversal. The current move toward key resistance provides an important inflection point, with a close above $111.01 serving as a signal for any potential shift in the prevailing negative outlook.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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