EMC Corporation (NYSE: EMC) — This information storage and peripheral company has recovered from its bear market lows under $10, and in late April drove to new highs above $21.
As the economy recovers, demand for information storage and new technologies in that area will increase, and EMC is an industry leader.
Technically, the triple-top breakout in February on solid accumulation was a strong signal to buy this stock. But the market sell-off took the good with the bad, and drove EMC to its 200-day moving average where it is a strong buy.
I first provided this chart for our Top Trades for May, but its continued strength and recent pullback again make it a best buy.
The trading target for EMC is $23, but it could go much higher based on its high rate of accumulation and strong momentum. Standard & Poor’s rates EMC a “four-star buy.”
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