Oppenheimer: 4 Industrial Stocks That Are Technical Buys

Oppenheimer recently released a report focused on identifying stocks with technical buy indicators in their charts. After analyzing the industrial sector, Oppenheimer chose four stocks to highlight as technical buys. Delta Airlines Inc DAL After breaking out to new highs in a chart versus the S&P 500 in late 2013, Delta has been forming a base at higher levels for over a year. With what appears to be a firm support level in place right at the level of the 200-day simple moving average, analysts believe that the technical downside to the stock is limited and a breakout to the upside is coming at some point. American Airlines Group Inc AAL American Airlines is another airline chart that analysts like. A resistance line dating back to mid-2014 recently held as support twice in early 2015 in the stock's chart versus the S&P 500. In addition, the stock recently broke above a short-term resistance level as well. CH Robinson Worldwide Inc CHRW In mid-2014, CH Robinson broke out above a downward-sloping resistance line that had been in place in the stock's chart versus the S&P 500 for about three years. Since that time, the stock has found support at a higher level, and analysts like the broad reversal base that it has formed. CSX Corp CSX Analysts see the recent pullback in CSX's chart versus the S&P 500 as merely a retracement to a support line that had previously served as resistance many times since the beginning of 2013. Analysts are expecting a technical bounce to follow the pullback. Other industrial names The report lists Union Pacific Corp UNP and Southwest Airlines Co LUV as two other industrial stocks to buy based on technical analysis.