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Seven Little-Known Bull Markets

A small basket of popular stocks attract the vast majority of coverage in the financial media, while a universe of hard-working companies goes relatively unnoticed and unloved, despite strong fundamentals and equally strong technical patterns. Let's correct that oversight today with seven bull-market stocks you've never heard of.

AXT Inc. (AXTI) -- Daily
Source: eSignal

AXT Inc. (AXTI - Get Report) makes core materials for the semiconductor industry. It bottomed out at $0.68 in 2009 and entered a strong uptrend that eased into a rising channel in May of this year after the stock posted a two-year high. It's still grinding higher in that pattern nearly three months later.

Support at $4.25 and resistance at $5.50 define the boundaries of this stable uptrend. The stock reversed at the channel high on Tuesday, so it may not be the best time to get on board. But watch closely, because recent price action is generating enough momentum to trigger a channel break and a fast rally up to the 2008 high at $7.20.

Superior Well Services (SWSI) -- Daily
Source: eSignal

Superior Well Services (SWSI) builds equipment for oil and natural gas explorers. It broke down from a massive double top pattern at $17 in late 2008 and plunged to an all-time low at $4.11. It entered a new uptrend in 2009 and returned to resistance in January of this year. The stock ground sideways for the next six months and broke out last week.

This buying spike is significant because it sets up the right conditions for a strong uptrend that eventually reaches the 2008 high near $36. In other words, this stock might offer a "double" to investors in the next three to six months. The easiest trade entry will come on a pullback to new support near $18.

MIPS Technologies (MIPS) -- Daily
Source: eSignal

MIPS Technologies (MIPS) is a Sunnyvale-based semiconductor company that specializes in home entertainment devices. It sold off from $10 to $1 during the bear market before entering a persistent recovery. It's now trading near the midpoint of the 2008-09 decline in a channeled uptrend.

The rally topped out with the broad market in April, with the stock pulling back and testing the 50-day moving average four times in the last three months. It has now built a broad triangle pattern, with resistance between $5.50 and $6. A breakout should support a renewed uptrend that reaches 2007 resistance between $7.50 and $8.
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MIG $8.64 0.12%
ALSK $1.80 -2.20%
AXTI $3.12 2.00%
IDIX $24.50 0.20%
MBLX $1.48 -4.50%


Chart of I:DJI
DOW 17,686.02 +34.76 0.20%
S&P 500 2,053.44 +2.32 0.11%
NASDAQ 4,730.30 +4.6610 0.10%

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