5 Stock Charts And A Market MA, SNDK, VMW, CAAS, CAT

The last couple of weeks I have been tracking the path of a handful of stocks and watching them develop and make some size-able gains. Today we’ll update the chart of 5 stocks.

Before we jump into the individual picks, a quick look at the current market analysis of the Dow, shows us that there might be a little more life in this market than many are claiming.

You’ll remember in our last look of this chart a couple weeks back, we were looking for the market to get above the resistance at around 10,300. Well, it has since moved a couple 100 points above that and looking to head higher.

Some notes and reminders on how I read stock charts.

Mastercard (MA) – Back in November 09 when this stock was at $235, I first recommended it. Since than, the stock has peaked out at $270 and consequently came crashing down to $220. Now the stock looks ready to make its move higher again and fill the gap it once created.

The initial price target is $248 with a stop at $235.

SanDisks (SNDK) – Just last week I looked at this chart and stated to wait for the pullback. This is exactly what the stock did. It pulled back to the support and bounced higher.

If you missed the entry, I still like it with a stop at $33.

VMware (VMW) – The stock is up 30% now since I first recommended it and 8% of that came when I last updated that recommendation. The stock is right on the cusp of my initial price target of $54, so look for some resistance around there.

China Automotive Systems (CAAS) – There is not much more to say than what my previous analysis of this stock hasn’t already acknowledge yet. Since the initial entry, the stock has successfully passed resistance and tested the new support.

Caterpillar (CAT) – Last week I told you this stock could break either way off its 50-day moving average, and it did. Now we are looking for this stock to break $60.