12 Stocks Holding Key Multi-Year Support – MA, RIMM, MON…

Blain Reinkensmeyer

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Bear markets are known to bottom about 60% through a standard recession. If investors wait until economic data supports a turn around they typically have already missed a substantial rally. By watching stocks that hold key multi-year support levels investors can get an upper hand buying potential new market leaders early and with confidence.

Below are 12 stock charts at or near multi-year support levels from back as far as 2005. These are considered technical setups and should only be used as a watchlist reference for moving forward. A stock that holds multi-year support is more likely to be a leader when the market eventually turns.

New Investors – Read Stock Charts, Understanding the Basics and browse the technical analysis archives before viewing the charts below. Also take a look at the free stock education page.

Charts:

1. Mastercard (MA)
2. Research in Motion (RIMM)
3. Monsanto (MON)
4. Hewlett-Packard (HPQ)
5. Helmerich & Payne (HP)
6. Massey (MEE)
7. Canadian Solar (CSIQ)
8. Dryships (DRYS)
9. Continental Resources (CLR)
10. Sociedad Quimica Y Minera (SQM)
11. SunPower (SPWRA)
12. Fuel Systems Solutions (FSYS)

Charts numbered (click to view full chart):

1. 2. 3.

4. 5. 6.

7. 8. 9.

10. 11. 12.

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Read more on Research in Motion at Wikinvest

6 Responses

1. 

   1

   The Stock Speculator - October 27th, 2008 at 9:04 am

   Nice work Blain. I wonder if the market makes another leg down, if these key support areas hold, or do these stocks just give it all up?

   MEE is pretty frightening to look at.

   Those charts also reinforce why buy and hold is a myth.

2. 

   2

   Matt - October 27th, 2008 at 9:22 am

   Great charts, added several to my watch list, thanks!

3. 

   3

   Stock - October 27th, 2008 at 10:38 am

   Nice charts keep it up man

4. 

   4

   rhinodude47 - October 27th, 2008 at 11:17 am

   Page bookmarked .

   Seems that FSYS is in the best shape here, natural pullback to its previous breakout levels. Only concern I have is the stocks group which isn’t a necessarily attractive high growth area. Earnings are due out November 7th by the way.

5. 

   5

   StockJunkie - October 27th, 2008 at 12:28 pm

   These are great reference points easily forgotten with investors. Multi-year trendlines can play a big role in the long term sustainability for any stock. Especially when it comes to rebounding, you can definitely bet some of these charts will setup fantastic bases before starting fresh runs.

6. 

   6

   kanerd - October 27th, 2008 at 8:27 pm

   Blain, the 12 bearish patterns you posted recently have begun to turn over really nicely. Keep the good stuff coming our way.

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