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TheStreet Open House

4 Industrial Goods Stocks Spiking Higher


Siemens ( SI), an electronics and electrical engineering company, operates in the energy, health care, industry and infrastructure and cities sectors worldwide. This stock closed up 1.3% at $109.32 in Friday's trading session.

Friday's Volume: 887,000
Three-Month Average Volume: 394,216
Volume % Change: 126%

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From a technical perspective, SI rose modestly higher here with above-average volume. This stock recently formed a double bottom at $96.35 to $96.65. After making that bottom, shares of SI uptrended strong, with shares moving higher from $96.65 to its intraday high of $109.70. During that move, shares of SI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SI within range of triggering a major breakout trade. That trade will hit if SI manages to take out some past resistance at $110.05 with high volume.

Traders should now look for long-biased trades in SI as long as it's trending above some near-term support levels at $107 or $106 and then once it sustains a move or close above $110.05 with volume that's near or above 394,126 shares. If that breakout triggers soon, then SI will set up to re-test or possibly take out its next major overhead resistance levels at $125 to $127.35.

CaesarStone Sdot-Yam

CaesarStone Sdot-Yam ( CSTE) manufactures engineered quartz surfaces used in both residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. This stock closed up 5.4% at $31.70 in Friday's trading session.

Friday's Volume: 520,000
Three-Month Average Volume: 195,715
Volume % Change: 160%

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From a technical perspective, CSTE spiked sharply higher here right above some near-term support at $28.85 with above-average volume. This move pushed shares of CSTE into breakout territory, since the stock took out some near-term overhead resistance levels at $30.26 to $30.50. This move also pushed shares of CSTE into new all-time high territory, since the stock hit an intraday high of $32.98.

Traders should now look for long-biased trades in CSTE as long as it's trending those breakout levels at $30.50 or $30.26 and then once it sustains a move or close above its new all-time high at $32.98 with volume that's near or above 195,715 shares. If we get that move soon, then CSTE will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that move are $40 to $43.

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