This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Big Stocks Ready to Slingshot Higher


Caterpillar isn't the only name that looks like it's bottoming right now. A bottom of a different sort is coming into play for shares of $40 billion Japanese manufacturer Canon (CAJ - Get Report) right now.

>>5 Consumer Stocks Hedge Funds Love

Canon is currently forming a double bottom setup, a pattern that's formed by two swing lows that bottom at approximately the same price level. The peak that separates those two lows is the breakout level that signals the pattern is complete and it's a good time to be a buyer again. For Canon, that price is a resistance range that tops out at $36. I'd recommend that conservative traders wait for that range to get exceeded with a print above $36 before putting their money on the line.

If you're used to looking at price charts, you may notice that Canon looks more "gappy" than most. That is, there is a significant number of small price gaps on the chart. Those gaps, known as suspension gaps, are just caused by trading on the Tokyo Stock Exchange when U.S. markets are closed. For technical analysis purposes, trade this stock as if they weren't there.
4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
CAJ $28.14 0.00%
CAT $66.12 0.00%
MNR $10.35 0.00%
MSFT $50.16 0.00%
RDS.A $44.68 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs