15 Bullish Technical Charts MKM Analysts Are Watching
In a new report, MKM Partners analyst Jonathan Krinsky explains why MKM believes that the S&P 500 is likely headed for another large pullback in coming weeks. According to Krinsky, the 13 percent, 26-day rally off of February lows is nearly identical in magnitude and duration of the rally in the Fall of last year.
Despite the cautious outlook, Krinsky names 15 stocks with very bullish technical charts that could be relatively safe plays in the event of another major market pullback.
“There is no theme here as these stocks are across different industries, but displaying strong absolute and relative charts,” he explains. Krinsky adds that MKM expects these 15 stocks to outperform in the short and intermediate-term.
Krinsky notes bullish charts for the following stocks:
C R Bard Inc (NYSE: BCR)
Cabot Corp (NYSE: CBT)
Colgate-Palmolive Company (NYSE: CL)
Drew Industries, Inc (NYSE: DW)
Ebix Inc (NASDAQ: EBIX)
FLIR Systems, Inc. (NASDAQ: FLIR)
Firstmerit Corp (NASDAQ: FMER)
NVIDIA Corporation (NASDAQ: NVDA)
Pool Corporation (NASDAQ: POOL)
Ruth’s Hospitality Group, Inc. (NASDAQ: RUTH)
Teradyne, Inc. (NYSE: TER)
Hanover Insurance Group Inc (NYSE: THG)
Thermo Fisher Scientific Inc. (NYSE: TMO)
UnitedHealth Group Inc (NYSE: UNH)
Vulcan Materials Company (NYSE: VMH)
Krinsky also includes the following annotated charts in his report.
Disclosure: the author holds no position in the stocks mentioned.
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