• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Energy

Micron Technology and Williams Companies Have Good-Looking Charts

Cutting down the 7 best S&P 500 stocks in August to a field of 2.
By BRUCE KAMICH
Sep 01, 2016 | 12:36 PM EDT
Stocks quotes in this article: NTAP, MU, URBN, ENDP, SYMC, CHK, WMB

USA Today reported Thursday the seven top-performing S&P 500 stocks for the month of August -- NetApp (NTAP) , Micron Technology (MU) , Urban Outfitters (URBN) , Endo International (ENDP) , Symantec (SYMC) , Chesapeake Energy (CHK) and Williams Companies (WMB) . Filters like this are interesting, but they only give you a hindsight look at the markets. Hint: You make money by being forward looking.

Going through this short list for the best-looking charts now and heading into the back end of the year, I culled the list down to just two names: Micron Technologies and Williams Companies.

In this daily chart of MU, above, we can see a nice saucer bottom pattern from January through May. Prices, volume, the On-Balance-Volume (OBV) line, and the 50-day moving average line all turned up in May and June. Notice the pickup in volume at the end of June, as prices made new highs and closed above the 200-day moving average line.

A bullish golden cross of the 50-day and 200-day averages appears at the end of July. Our price-momentum indicator in the lower panel is not signaling any worrisome bearish divergences. Shallow dips in MU could be bought, risking a close below $13.

In this twelve-month daily bar chart of WMB, above, we can see a "textbook" uptrend from a February low. The slope of the 50-day is positive, and it has been tested several times. Prices had rallied enough to clear the 200-day average line at the beginning of August. Confirming the uptrend is the rising OBV line, which tells us that buyers of WMB have been more aggressive since February. Momentum has slowed a little from July to August, and this might foreshadow some price softness for WMB. With nearby chart support around $25 and the rising, 50-day average just below that level, a pullback in WMB is likely to be relatively shallow -- and presents a buying opportunity. A deeper decline to $22 would warrant a reappraisal of my bullish hypothesis.

What about the rest of the list? NetApp, Urban Outfitters, and Symantec are all extended on the upside and vulnerable to a deeper setback from here. Endo International looks like it is stuck in a base pattern and Chesapeake Energy lacks buying enthusiasm.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are restricted from trading individual securities.

TAGS: Investing | U.S. Equity | Energy | Technology | Markets | Stocks

More from Energy

As Pioneer Natural Resources Blazes a Trail Higher, We Have New Price Targets

Bruce Kamich
May 25, 2022 2:50 PM EDT

Here's our updated bullish strategy on PXD.

Magellan Midstream Partners Is Close to Discovering a Major Upside Breakout

Bruce Kamich
May 25, 2022 8:53 AM EDT

Here's how traders can play it.

An ETF for When You're Over ESG

Mark Abssy
May 24, 2022 4:05 PM EDT

Constrained Capital ESG Orphans ETF bets that ESG trends have put undeserved pressure on fossil fuel, nuclear energy, weapons, alcohol, tobacco, and gaming companies.

Bettin' a Buck on Devon

Mark Sebastian
May 24, 2022 1:39 PM EDT

Here's where I see Devon Energy going and how to play it.

3 Oil & Gas Royalty Trusts For $100 Oil

Bob Ciura
May 20, 2022 2:05 PM EDT

For investors looking to take advantage of lofty oil and gas prices, we like these investment vehicles.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 11:33 AM EDT PETER TCHIR

    Thoughts Ahead of the Fed Minutes

    Recent economic and earnings issues are convincing...
  • 02:24 PM EDT PAUL PRICE

    An Interesting Chart

    I'm betting heavily that stocks will be way up aga...
  • 10:10 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    "Market Timing for Dummies"
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login