1/13/20
OUR TOP 3 VALUE STOCKS READY TO MAKE A MOVE HIGHER
After steady follow through, the ‘Value Rotation’ has taken a slight pause since our original piece on November 10 titled “The Value Rotation is On”. https://bluechipdaily.com/the-value-rotation-is-on/ We believe the next leg in value is setting up for a move higher, and here are three of our favorite large cap names:
BANK OF AMERICA, (NYSE:BAC), $34.92
Bank of America is one of our core blue chip names, and recently broke out to a new 11-year high. BAC is consolidating nicely here, and still holding above the bullish rising 50-day moving average currently at 33.76. Our chart analysis says the next leg is higher, and $31.50 – $32.50 is key support on any pullback. All key moving averages are rising, which is a very bullish trend signal.
FREEPORT-MCMORAN, (NYSE:FCX), $13.44
Freeport is the high-volume blue chip name in the industrial metals and copper space, and seems to be a recent beneficiary from the pickup in value stocks and weakening US Dollar. From our technical perspective, the stock appears to be setting up for a leg higher, as it is breaking out today to a 9-month high. The rising 50-day moving average below at 11.98 is a key trend gauge and first level of support on any pullback. The 200-day moving average is also starting to turn higher, a bullish longer term signal. If the Dollar continues to weaken, or if value stocks continue to move higher, FCX could be a top performer over the next few months or longer.
GENERAL ELECTRIC, (NYSE:GE), $12.02
GE recently broke out to a 13-month high and has been testing over the $12 level for the last two weeks. The GE chart is bullish here in the intermediate term, and the stock has considerable support in the $10.50 – $11.00 range on any pullback. All key moving averages are also rising, a very bullish longer-term trend signal. This continues to be one of our top ideas in the value space.
