Friday, January 11, 2013

The best of the Dow 30

Among the Dow 30 components a handful of stocks stand out this morning as having potentially bullish short-term chart patterns. 

Cisco Systems (CSCO) is bumping up against near-term chart resistance at 20.50 but should be able to overcome this level soon.

Chevron Corp. (CVX) is coming out of a tight, well-defined consolidation pattern.  Chevron has lagged the oil stock group in recent weeks but appears to be playing a belated game of “catch up.”

Intel Corp. (INTC) looks to be on its way to testing the 22.50 resistance peak from early November.

McDonald’s (MCD) is also playing “catch up” with the Dow.

Keep an eye on Travelers Cos. (TRV).  The stock has been backing and filling for weeks and, while it may not be quite ready to run, the stock has good intermediate-term upside potential.

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