What is great about using stock charts is that it takes all the news and emotion out of trading. Using charts, traders can read and react – buy on breakouts and sell when the move fails to take off.
Stay true to that simple tip, and you should be good in any type of market. Below are 4 stocks to keep an eye on.
Crocs (CROX) – Has had a great year thus far and a even better run over the last couple of weeks. The stock is now consolidating. Look to buy on a breakout above $22.50 or sell/hold if falls below $22.
Caterpillar (CAT) – Look to ride the hot hand. Buy on a push higher, with a target of $116.
JP Morgan (JPM) – The banks have definitely struggled as of late. JP Morgan came out hot at the beginning of the year, but most of the financials have pulled back since than. Here is to keeping the stock above the current support line.
Ford (F) – After taking that massive hit at the beginning of the year, Ford looks to have bottomed out by finding support around the 200-day moving average. Look to buy on any move higher.