Last week Jim Cramer gave a nod to Linde (LIN) , a supplier of industrial and medical gases. "Recent financial results at industrial gas suppliers demonstrate pricing strength amid inflationary pressures," Cramer said.
We last looked at Linde on Feb. 9 and wrote at that time, "LIN is ready to move to new highs, but a broad market decline could derail that for a short time. Keeping that in mind, traders could look to buy a dip to $250 and then risk below the 200-day moving average line, or around $230."
Let's check out the charts of LIN again.
In this daily bar chart of LIN, below, we can see that prices made a correction in June and July but strengthened in August. LIN is trading above the rising 50-day moving average line. The slow-to-react 200-day moving average line has a positive slope. The On-Balance-Volume (OBV) line made a sharp decline from May into June but it has been recovering from late June and suggests that buyers of LIN have been more aggressive in recent weeks. The MACD oscillator is above the zero line but has narrowed sharply.