Scanning the Four Dow Jones Stocks at New 52 Week Highs

Jun 22, 2015: 2:53 PM CST

On Friday and today’s bullish session, four stocks in the Dow Jones Industrial Index of big blue chip stocks made new 52-week highs in a strong and persistent uptrend.

What are they and what do their uptrends look like right now?

Let’s see them and plan our next move:

From the screenner in FinViz, we see the following stocks in the Dow Jones at new 52-week highs:

The Walt Disney Company (DIS), financial giants Goldman Sachs (GS) and JP Morgan Chase (JPM), and expanding retailer Nike (NKE).

Take a moment to view my prior update on “Strong Trending Dow Stocks JP Morgan and Goldman Sachs.”

The idea with this scan is that stocks which are strong tend to get stronger.

Thus, strategies include waiting to buy on pullbacks (retracements) or on breakouts in strongly trending stocks.

Simply take a closer look at each of these companies (stock charts) to see the persistent trends in motion:

We’ll start with Disney (DIS):

The intention of this post is to highlight these stocks from a scan – not delve deeply into these names.

As you scan these charts, note the uptrends, rising moving averages, retracements, and current position.

Nike (NKE):

JP Morgan Chase (JPM):

and Goldman Sachs (GS):

Go back to the weekly charts for even more perspective on these strong trending stocks.

For now, Disney, Nike, and JP Morgan are showing daily reversal candles in an overextended swing.

All stocks are spiking above their upper Bollinger Band (yet this is what happens with strong stocks).

It’s probably not the best time to rush in and buy these names indiscriminately; instead, keep these candidates on a watch list and look to buy on a retracement swing (which is more likely at this point than a straight-up continuation of the already strong bullish swings that just took place).

Do additional analysis and planning depending on your risk tolerance and trading strategies.

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Corey Rosenbloom, CMT
Afraid to Trade.com

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Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

1 Comment

One Response to “Scanning the Four Dow Jones Stocks at New 52 Week Highs”

  1. Yogpal Says:

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