5 Blue-Chip Stocks to Trade for Summer Gains
BALTIMORE (Stockpickr) -- With trading desks across the country getting ready for the Fourth of July market holiday, prepare for a riveting day of low volume. Despite a pile of economic data that hit at 8:30 this morning, and earnings season kicking off next week, the day before the July 4 break tends to be one of the quieter sessions of the year.
That doesn't mean that you should turn your attention to readying the grill and procuring a case of legally questionable fireworks for tomorrow just yet. Even though volume is going to be light today, there are still some big summer gains about to be set in motion. That's why we're turning to the charts to find five big-name stocks that look ready for a summer breakout.
If you're new to technical analysis, here's the executive summary.Technicals are a study of the market itself. Since the market is ultimately the only mechanism that determines a stock's price, technical analysis is a valuable tool even in the roughest of trading conditions. Technical charts are used every day by proprietary trading floors, Wall Street's biggest financial firms and individual investors to get an edge on the market. And research shows that skilled technical traders can bank gains as much as 90% of the time. >>Book Double the Gains With These 5 Shareholder Yield Champs Every week, I take an in-depth look at big names that are telling important technical stories. Here's this week's look at five high-volume stocks to trade this week.