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Chris Verrone Shares 3 'Catch-Up Trades'

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Chris Verrone Shares 3 'Catch-Up Trades'

Chris Verrone of Strategas shared with the viewers of CNBC's "Fast Money" his technical analysis of three stocks that look like they could catch up with the market.

Caterpillar Inc. (NYSE: CAT) has been cut in half over the last several years and it's now improving, said Verrone. It's trying to break out through the $145 level for the past couple of years and it is on a verge of doing so. Verrone sees a strong support at $135 and he would buy any pullback to that price level.

Morgan Stanley (NYSE: MS) peaked in 2018, but it has outperformed the financial sector recently. Verrone sees support around $49.50 and he wants to be a buyer in that area.

A multi-year downtrend is coming to an end in Pfizer Inc. (NYSE: PFE), said Verrone. He thinks the stock has formed a bottom and it could move to $50 or $55.

 

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