• 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

Charts of the Week: Boston Scientific, Alkermes, Snap-on, Stanley Black & Decker

These four names stood out to me from a weekly perspective.
By TIMOTHY COLLINS
Nov 08, 2015 | 08:00 PM EST
Stocks quotes in this article: BSX, ALKS, SNA, SWK

While the overall market demonstrated a little exhaustion late in the week, there are several names setting up well from a weekly view.

Four names stood out to me with basically a breakdown of two groups of two.

The first two comes from the medical device sector.

After a strong two weeks, Boston Scientific (BSX) has pushed over price resistance from the spring. The weekly chart is seeing multiple bullish crossovers along with this current price breakout. The MACD and Vortex Indicator (VTX) are both pushing bullish while the Relative Strength Index (RSI) just hit 70. The last big run from BSX came when these bullish crossovers occurred and the run continued a long time while the RSI was above 70. The bullish move did not end until we saw the RSI drop back below 70 and the MACD crossed bearish. I don't believe this current breakout has the same potential as the breakout from November 2014, but a minimal target of $21 here with the potential for $23 sits in the weekly chart. A close back under $18 put this one into neutral territory, while a close under $16.75 will cause many bulls to abandon ship.

Boston Scientific (BSX)
Source: StockCharts.com
View Chart » View in New Window »

Although not as strong, Alkermes (ALKS) is a chart waiting to break out. Bears have had their chances with this one, but notice all the bearish rejections in the yellow highlighted box. The stock has found rock-steady buyers every trip below $60 and down to $55. What makes this chart a bit more difficult is we don't have a breakout on price yet, nor do we have clean bullish crossovers on the MACD or VTX. The trend isn't clearly bullish yet. The RSI is still strong, but I would prefer to see a new high here.

Alkermes (ALKS)
Source: StockCharts.com
View Chart » View in New Window »

ALKS does have strength in the volume here as the On Balance Volume is pushing well above the 21-week simple moving average. The target on a breakout here is $80-82, but we really needs to see a close above last week's highs. This one is worth a watch, but isn't quite into buying territory yet.

If you don't like healthcare, there are a few names in the industrial goods sector. Snap-on (SNA) broke out last week. After a nine-month run, SNA consolidated in a rounding pattern and now looks to break higher. Price is above resistance and has its targets set on $185 here. RSI is very strong with the stock performing well as long as it has stayed above 50, but best over 65. The VTX is muddled, but we do have a bullish crossover on the MACD. A continuation of the MACD along with the On Balance Volume crossing above the 21-week simple moving average here should give bulls a bit more confidence going forward.

Snap-on (SNA)
Source: StockCharts.com
View Chart » View in New Window »

Similar to the healthcare setup, Stanley Black & Decker (SWK) looks set up to break out, but has not triggered yet. The plus here is secondary indicators are strong or poised to break out along with price. RSI is trending higher while both the VTX and MACD has crossed over bullish. Another small push higher in price this week and we should see the On Balance Volume push above the 21-week SMA, which should be enough to trigger bullish buyers. I would target an upside of $120. But just like ALKS, I would be patient and wait for the breakout.

Stanley Black & Decker (SWK)
Source: StockCharts.com
View Chart » View in New Window »

The choice between these comes down to whether a trader prefers a stock with a potential for price breakout or a stock one week into a price breakout. I prefer a combination of something like BSX plus SWK once it breaks out above last week's high, but this one comes down to preference as all the setups have something to offer.

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

At the time of publication, Collins had no positions in any of the securities mentioned.

TAGS: Investing | U.S. Equity | Stocks

More from Investing

Warning: Watch for Bull Trap

James "Rev Shark" DePorre
Jun 30, 2022 4:32 PM EDT

After an ugly day of bear market trading, beware of what could hide ahead on Friday.

For This REIT It's All About That Base

Bruce Kamich
Jun 30, 2022 4:10 PM EDT

We're checking the charts and indicators on Ventas, owner of senior housing and medical facilities.

This ETF Boasts 'Inflation Protection,' but Will It Rise to the Occasion?

Mark Abssy
Jun 30, 2022 3:26 PM EDT

The Ionic Inflation Protection exchange-traded fund, the latest such ETF to hit the market, offers direct exposure to the consumer price index.

Want to Save Your Retirement Fund? Tune Out the Talking Heads

Jim Collins
Jun 30, 2022 3:14 PM EDT

The first half of this year has been ugly. But we could have seen what would happen to Netflix, Tesla and Meta...

Is Pinterest's CEO Change Good News? It Depends on How You Look at It

Eric Jhonsa
Jun 30, 2022 2:30 PM EDT

Plus, why a report about an Apple 5G modem setback sounds believable.

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

  • 07:59 PM EDT PAUL PRICE

    Very good quarterly numbers from Bassett Furniture (BSET)

    Bassett Furniture (BSET) blew right through analys...
  • 04:41 PM EDT PAUL PRICE

    First Half Results - Putrid Second Half Results - Likely to Be Much Better

    It's great that we're done with June. 2022 marked...
  • 04:51 PM EDT PAUL PRICE

    We Should Be in for Better Starting Soon

    Window dressing Thursday, the last day of the...
  • 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