Stock Charts to Watch for Bulls AND Bears

These charts point to sizable moves in both directions

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As the stock market moves ever higher, the opportunities to find compelling charts are becoming more difficult. Let’s face it: the vast majority of charts are showing either relentless strength, especially in technology and retail; or desultory underperformance, most notably in energy and materials.

Fortunately, there still are some chances for the technically inclined to find charts that appear set for sizable moves. Although compelling cases can be made both for and against a continuation of the bull market, the following stocks can provide you with some beta no matter which way you’re looking to bet:

Charts for the Bullish

The large-cap health care giants might not be the most fertile ground for technicians, but the same isn’t true for the small- and mid-sized stocks in the sector. And right now, five stocks are on the verge of breaking out if the broader market can hold up:

1 300x173 Stock Charts to Watch for Bulls AND Bears
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Quest Diagnostics

NYSE:DGX

Tuesday’s close: $60.62

52-week high: $61.47

Percent move needed for breakout: 1.4%

 

2 300x173 Stock Charts to Watch for Bulls AND Bears
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Varian Medical Systems

NYSE:VAR

Tuesday’s close: $69.97

52-week high: $71.95

Percent move needed for breakout: 2.8%

 

3 300x173 Stock Charts to Watch for Bulls AND Bears
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DENTSPLY International

NASDAQ:XRAY

Tuesday’s close: $40.09

52-week high: $40.37

Percent move needed for breakout: >1%

 

4 300x173 Stock Charts to Watch for Bulls AND Bears
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The Cooper Companies

NYSE:COO

Tuesday’s close: $79.97

52-week high: $80.25

Percent move needed for breakout: >1%

 

5 300x173 Stock Charts to Watch for Bulls AND Bears
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Haemonetics Corp.

NYSE:HAE

Tuesday’s close: $70.08

52-week high: $70.59

Percent move needed for breakout: >1%

 

6 300x173 Stock Charts to Watch for Bulls AND Bears
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Outside of health care, Coca-Cola (NYSE:KO) stands out as an interesting technical play from the bullish side. The stock might be pushing the high end of its three-year valuation range, but it closed Tuesday at $71.87, surpassing several September intraday highs in the low- to mid-$71s. Technical factors are less likely to move a stock of this size than they would be for a smaller name, but there might yet be further upside in this Dow stalwart.

NEXT: 6 Charts for Bearish Traders >>


Article printed from InvestorPlace Media, http://investorplace.com/2012/03/stock-charts-to-watch-for-bulls-and-bears/.

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