4 Stocks In Bullish Uptrends This Week
The following four stocks are currently in the midst of uptrends according to VantagePoint, an AI charting platform that uses intermarket analysis and artificial intelligence to predict future price action 1-3 days in advance.
A couple of things to know in order to understand the charts below:
Each chart is a 3-month chart. Candles represent one day of trading
The blue line is a predicted moving average, and the black line is a simple 10-day moving average
When the blue line crosses above the black, that's a bullish signal. When the black crosses over the blue, that's bearish
For a more detailed look at VantagePoint's charts, click here.
Berkshire Hathaway
Berkshire Hathaway Inc. (NYSE: BRK-B) had a predictive moving average crossover to the upside on July 9, indicating a bullish trend. The stock has since risen nearly 6 percent, and since the crossover you can see how the two moving averages have stayed far apart, indicating the trend is strong. Berkshire closed up 0.6 percent on Monday.
Morgan Stanley
Morgan Stanley (NYSE: MS) had a bullish crossover on July 13 thanks to strong Q2 earnings from the banks, and has since risen 4.1 percent. Though the gains have leveled off the past week and the neural index has shifted to red (indicating potential weakness in Tuesday's session), the blue line is still above the black, indicating the uptrend remains.
D.R. Horton
D.R. Horton Inc (NYSE: DHI) had a huge green candle on July 26 as a result of its earnings, which reversed the stock out of a downtrend. Despite two days of weakness since, the blue predicted moving average has not crossed below the black 10-day moving average and the neural index is in the green for Tuesday, indicating the stock is still in an uptrend. DHI is up 10.5 percent since its July 26.
Valero Energy
Valero Energy (NYSE: VLO) had a bullish crossover on July 25 after a prolonged downtrend for most of June and July. Since then, the stock has rallied 9 percent thanks to Q2 earnings and sales numbers that came in above Wall Street's estimate. With the neural index green and the blue and black lines diverging, this uptrend looks clearly intact. VLO was mostly flat on Monday.
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