Lets Talk Charts 6
Wow AAPL's Steve Job is going to take a leave of absence, and Citi Group Sells off....well, I'm tired of waiting for the weekend to find you guys chart opportunities, so I've decided I'll begin writing more frequently.
So.....
Lets Talk Charts
Fastenal (FAST)
This Capital Goods company, is showing signs of breaking out on its closing price today. The volume was heavy and the stock went 1.77% to the upside as it's profits soared 46% in 4Q. With that bullish fundamental news couple with the fact that this equity has been trading FAST sideways for nearly two months, I think investors will share my opinion and buy this stock since it looks like it going to open higher Wednesday morning...if not BUY it now!!!
Idexx Labs Inc (IDXX)
The health care supplier has shown a nice pull back to 68 from its recent high at 72. I'm not implying that we missed a nice entry at 68 because I always wait for a stock to bottom before I buy it and hope it rides higher. This stock has had very little news lately so investors are forced to trade it technically over fundamentals. From a chart perspective, the volume was quite high today, and I think it's going at least to the breakout at 72
This capital good company except that S&P reiterated its buy rating on IBI on Jan-4th (which is practically ancient now...). So again just as we looked at IDXX, we put an emphasis on the chart. The chart is showing the highest volume of stock ever traded today relative to the past 3months. The last time volume traded this high to the upside the stock broke out and rode from 20 range to 22.50 range. I think this stock has been bubbling side ways for enough weeks now to go higher!
InGram Micro (IM)
This computer hardware company is set to show its highest earnings on Feb 11th relative to the past two years. But Feb-11 is a far time away, the chart is showing us IM has a support line as hard as concrete and the volume is commanding the stock to keep going higher!..needless to say...it's a BUY!
This biotech drug comany may be getting a bit rich at a 22 PE but just look at that pull back with volume sending it almost back up to the breakout, 68 is resistance, if it blows through that then 69 is probably in the bag!
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