Young businesswoman examining business charts on desktop PC in the office.
Lately, there are more buyers than sellers in these 4 stocks, all of which are traded on the New York Stock Exchange.
You can tell that there are more buyers than sellers because the price of each of these stocks is going up. No guarantees exist that they’ll continue upward but, in general, they look better to investors than stocks that have been going down.
For those interested in stocks that have been going higher in price, here are 4 decent examples:
Deckers Outdoor
Here’s what the Decker’s point-and-figure chart looks like:
DECK point-and-figure price chart, 7 26 22.
It’s backing off from 300 to 278 this morning after breaking out above 272 a few days ago. The chart pattern remains bullish as long as buyers keep coming in at that 272/270 level. The main thing is: it’s broken above that long-term downtrend line from late 2021.
Lowe’s Companies (NYSE:LOW) is a home improvement retail company now trading with price-earnings ratio of 15.9. This year’s earnings per share are up by 55.30%. The past 5 years show a 28.20% improved EPS growth. The company pays investors a 2.18% dividend.
The Lowe’s price chart is here:
Lowe’s point and figure price chart, 7 26 22.
After declining for most of 2022, the price found support at 170 and rallied up to 198 before selling off to 188. It’s back in an up trend that would be enhanced greatly if the stock could close above that 198 resistance again. Lowe’s has an average daily volume of 3.81 million shares — it’s well-known and popular.
The Boston Beer Company (NYSE:SAM) falls under the “beverages and brewers” sector. They’re having a tough year this year with earnings per share off by 92%. The past 5-year EPS growth rate is also negative at -29.70%. Boston Beer benefits from having no long-term debt.
Here’s how the point-and-figure chart looks:
The Boston Beer Company point-and-figure price chart, 7 26 22.
Service Corporation International (NYSE:SCI) bills itself as “North America’s leading provider of funeral, cremation and cemetery services.” This year’s earnings per share are up by 63.80% and the past 5-years shows EPS growth at a 39.20% rate. Investors are paid a 1.38% dividend. The company trades with a price-earnings ratio of 15.35, a lower p/e than that of the S&P 500 taken as a whole.
Their point-and-figure price chart is here:
Service Corporation International point-and-figure price chart, 7 26 22.
A much clearer up trend than the other charts, Service International just broke above a long-term resistance level of 71. That’s a quadruple top breakout, something you don’t see that often and probably significant.
Not investment advice. For educational purposes only.
Source: https://www.forbes.com/sites/johnnavin/2022/07/26/4-stocks-returning-to-up-trends-for-now/