July 15

I could easily repeat what I wrote here

yesterday since it's the same old story: Buyers come out in force when stocks are down. With that in mind, here's a different twist for this daily column. I searched for a group of beaten-down, out-of-favor stocks that now look as though they no longer want to go lower and can be bought.

The index is the

Dow Jones Transportation Average

. With oil prices hovering around $20 a barrel, these stocks have not been favorites. In addition, the negative news from

UAL

(UAL) - Get Report

a short while back did not encourage confidence in the airline group. However,

AMR

(AMR)

is building a large base and looks more likely to break out on the upside than continue to languish within the base. A target in the 80s is easily doable.

Delta's

(DAL) - Get Report

chart is not nearly as interesting to me, but the company is due to report earnings on Thursday. It has a lot of resistance around 66-68, but that would be a 10% move from here.

FDX

(FDX) - Get Report

is also quite oversold down here and should rally back to the mid-50s.

New Highs and New Lows

Overbought/Oversold Oscillator

Cumulative Advance/Decline Line

Helene Meisler, based in Singapore, writes a technical analysis column on the U.S. equity markets on Tuesdays and Fridays, and updates her charts daily on TheStreet.com. Meisler trained at several Wall Street firms, including Goldman Sachs and Cowen, and has worked with the equity trading department at Cargill. At time of publication, she held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. She appreciates your feedback at

KPMHSM@aol.com.