Market Overview

Carter Worth Is Bullish Mohawk Industries, Allergan And Morgan Stanley


On CNBC's Fast Money, Carter Worth spoke about stocks that could be considered as safe haven when markets are turbulent. He thinks that the best strategy is to pick the best performing stocks in the best performing sectors.

Worth likes Mohawk Industries, Inc. (NYSE: MHK) because he noticed on its chart a technical pattern called ascending wedge. He thinks that the stock is going to continue to trade higher.

He also likes Allergan PLC (NYSE: AGN), which has a well defined uptrend and it traded sideways in the last four months. He expects a break out on the upside and he sees an 8 to 10 percent upside potential.

Morgan Stanley (NYSE: MS) has been trading in the uptrend channel and Worth believes that the stock is going to approach the upper range of the uptrend channel. He also expects an 8 to 10 percent move higher in the stock.


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Posted-In: Carter Worth CNBC Fast MoneyMedia Trading Ideas