Stock Charts to Watch for Bulls AND Bears

These charts point to sizable moves in both directions

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Charts for the Bearish

Materials and transportation stocks have lagged the market by a wide margin in recent weeks, so it’s no surprise that a number of stocks from these groups would be on the cusp of a breakdown. While many of these names have already experienced significant downside in the past 12 months, all are perched at key levels that could be violated if the broader market turns south.

7 300x173 Stock Charts to Watch for Bulls AND Bears
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Peabody Energy

NYSE:BTU

Tuesday’s close: $29.85

52-week low: $29.78

Percent move needed for breakdown: >1%

 

8 300x173 Stock Charts to Watch for Bulls AND Bears
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James River Coal

NASDAQ:JRCC

Tuesday’s close: $5.31

52-week low: $5.01

Percent move needed for breakdown: 5.6%

With respect to these two coal stocks, note that Alpha Natural Resources (NYSE:ANR) broke below its early October low on Monday, while Patriot Coal (NYSE:PCX) and Arch Coal (NYSE:ACI) both established 52-week lows earlier this month — not the best sign for BTU and JRCC.

 

9 300x173 Stock Charts to Watch for Bulls AND Bears
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CH Robinson Worldwide

NASDAQ:CHRW

Tuesday’s close: $65.35

52-week low: $62.30

Percent move needed for breakdown: 4.7%

 

10 300x173 Stock Charts to Watch for Bulls AND Bears
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Baltic Trading

NYSE:BALT

Tuesday’s close: $4.11

Recent low: $3.79

Percent move needed for breakdown: 7.8%

 

11 300x173 Stock Charts to Watch for Bulls AND Bears
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Barrick Gold

NYSE:ABX

Tuesday’s close: $43.80

52-week low: $42.50

Percent move needed for breakdown: 3.0%

 

12 300x173 Stock Charts to Watch for Bulls AND Bears
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Allied Nevada

AMEX:ANV

Tuesday’s close: $31.49

Level to watch: $30.00

Percent move needed for breakdown: 4.7%

As with the coal stocks, the performance of these gold miners’ industry peers doesn’t bode well for Barrick and ANV. AngloGold Ashanti (NYSE:AU), Kinross Gold (NYSE:KGC), Gold Fields (NYSE:GFI), IAMGOLD (NYSE:IAG) and Harmony Gold Mining (NYSE:HMY) are all among the many gold-related names that have established 52-week lows so far this month.

As of this writing, Daniel Putnam did not hold a position in any of the aforementioned securities.


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

©2014 InvestorPlace Media, LLC

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