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5 Big Stocks to Trade for March Gains

Goldman Sachs

China Mobile's setup is also important because it tips off traders to a similar setup in Goldman Sachs (GS - Get Report). Goldman hasn't exactly been a stellar performer in the last year -- shares of the investment bank have fallen more than 30% in the last 12 months, dragged lower as the whole financial sector took its knocks in 2011. But a double-bottom in GS could spell significant upside in this fallen financial.

Goldman formed its double-bottom at the start of the new year, when shares found support a second time at $90. The second bottom is actually a shorter-term double bottom itself, with a breakout level at B2. Because the intermediate peak at B2 failed to reach the firm's current breakout level, it's not a triple-bottom; either way, though, the trading implications are exactly the same. The buy signal comes on a push above resistance at that $118 price level.

When that happens, I'd recommend putting a protective stop at the 200-day moving average.

Goldman shows up on recent lists of 10 Top Value Stocks With Big Gains in 2012 and 5 Stocks to Buy on a Pullback, and it was highlighted earlier this week in " 5 Stocks Poised for Breakouts."

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BHP $28.78 0.00%
CHL $58.78 0.00%
GS $188.67 0.00%
VTR $52.79 0.00%
UL $43.08 0.00%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

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