In a recent report, analysts at Oppenheimer took a technical look at the market and chose some of their favorite stocks in different sectors based on what they see in the charts. Here’s a group of four bullish stocks that analysts selected based on technical analysis.
American States Water Co AWR 0.22%
In late-2014, American States Water broke above the $35 resistance level to reach a new set of highs. The stock also recently broke above resistance levels on a chart versus the S&P 500. The stock’s chart Is one of Oppenheimer’s favorites in the entire utility sector.
Level 3 Communications, Inc. LVLT 1.16%
Level 3 recently broke above two resistance levels: a near-term level at around $50 and a longer-term level at $40 that goes back to 2011. From a technical perspective, Level 3’s chart is one of analysts’ favorite charts in the telecom sector.
Sealed Air Corp SEE 0.51%
After breaking above key resistance levels on both a standard price chart and a price chart versus the S&P 500, Sealed Air has pulled back slightly in recent weeks. Analysts believe that the previous resistance levels will now serve as support, and traders should be looking to buy the dip.
Sensient Technologies Corporation SXT 0.31%
Sensient is another name that has recently achieved a technical breakout on both a standard chart and a chart versus the S&P. The share price broke out to new highs back in 2013, but the stock just recently broke above its 2011 peak versus the S&P 500.
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