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) 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.
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