The 5 Dow Stocks Charging To New Highs

November 13, 2015 by

updownCorey Rosenbloom: Of the 30 stocks in the popular Dow Jones Industrial Index, five strong companies are breaking to new 52-week highs (and in some cases, all time price highs).

Let’s shine a spotlight on these strong companies and note opportunities in these stocks.

General Electric (GE):

GE continues an uptrend though 2014 was a stagnant, flat (range-bound) year.

PRice broke higher only to trigger a violent Bear Trap into August ahead of an enormous rally on surging bullish volume.

Price broke above the $30.00 per share level to new highs and rests there currently.

It’s overbought/over-extended on its weekly chart but the general strategy is to buy pullbacks on retracements as this stock could continue its strength beyond $30.00.

Home Depot (HD):

Unlike GE, Home Depot (HD) had a stellar 2014 as price broke from a base ($80.00 per share) into a powerful uptrend toward $120.00.

Price retraced through most of 2015 and completed two impulsive (bullish) phases from two retracements.

Remember, we prefer to buy shares in strong trends as price retraces to a key moving average.

Shares are overextended and likely ripe for another pullback (retracement) but at the moment, Home Depot is trading into brand new highs.

McDonald’s (MCD):

McDonald’s is a stock not known for powerful uptrends or stellar swing trading opportunities, but late 2015 saw a huge interest return to this stock with the breakout firmly above $100.00 per share.

After building a multi-year base, shares crest above $100.00 into a momentum and volume-fueled breakout to continue the uptrend.

Shares just pushed through to new highs but also remain overextended above $114.00 per share.

It’s another stock that requires caution into a strong bullish impulse (overextended from moving averages).

The Travelers Companies (TRV):

This is the type of steady, stable uptrending price action we like to see!

Shares continued a series of higher highs and higher lows amid rising moving averages from 2013 into 2015.

Price broke this pattern mid-2015 with a lengthy consolidation and break under the 50 EMA but buyers rushed in powerfully with the September to November impulse.

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