Two Breakout stocks: Lubrizol Corporation And Bed Bath & Beyond

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Two Breakout stocks: Lubrizol Corporation And Bed Bath & Beyond

By Antonio Costa on July 23, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of www.stockcharts.com ( click to enlarge )

Bed Bath & Beyond (BBBY) broke out to record highs today. This breakout on normal volume did not convince me yet. At this point we may need to pull back and retest $32 to reset the overbought conditions and provide some room to develop a new trend up. Technicaly chart shows the stock is still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average. Stay tuned on it.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Lubrizol (LZ) has been is on a remarkable run since March and it doesn’t looks like the trend will change soon. At the present level, the stock is in overbought territory from a technical standpoint, however it does not mean the stock won’t still go up, but a pull back is needed. I’m very bullish on this stock, but in situations like this, I prefer to wait for a pull back rather than chase the market. Technically the stock is still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average.

Disclaimer: Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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