Must-See Charts: 5 Big Stocks to Trade for Gains
BALTIMORE (Stockpickr) -- U.S. markets bobbed and weaved yesterday, responding to a pile of catalysts -- from Janet Yellen to earnings season to a barrage of M&A activity -- that are keeping investors on their toes this summer.
But at the end of the day, the S&P 500 ended things 0.42% higher, coming within 3 measly points of all-time highs once again. Even though the big index is scraping up against the top of its long-term trading range, shares don't seem willing to back down. So even though "top-calling" is starting to run rampant again this summer, no one with skin in the game is taking gains.
And we're seeing that bullish stampede play out in the individual stocks this week. In a big way, we're seeing bullish technicals shaping up in more individual names in July than in quite some time.That's why we're turning to the charts today, for a technical look at five big stocks to trade for gains. >>5 Rocket Stocks to Buy for Summer Gains 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. >>Beat the S&P With 5 Stocks Everyone Else Hates 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.