We have had a positive stance toward DuPont (DD) for a while now. We authored a positive story about DuPont last month, but a post-election update seems warranted as prices are breaking out on the upside.
In this one-year daily chart, above, we can see DuPont is pushing to new highs for the move up. DD has been stalled in the $66 to $71 area for the past four months, but a breakout is under way. DD is positioned above the rising 50-day and 200-day moving averages. The Moving Average Convergence Divergence (MACD) oscillator has been in a bullish mode above the zero line since the middle of October and it is strengthening. The On-Balance-Volume (OBV) line has been in a sideways/neutral trend for the past two months, but it won't take much to turn the line higher.
In this three-year weekly chart of DD, above, we have more supporting evidence to take a long position. Prices are above the rising 40-week moving average line. The weekly OBV line is starting to turn up and the weekly MACD oscillator just signaled a new buy signal.
Bottom line: No need to wait to the close as I would buy DD here looking for a rally to $90 in the months ahead. Risk a close below $66 for now.