FSLR, SLW, URI, BLDR our Free Stock Picks  RSS

by Sinisa Persich, TraderHR.com, Thu November 1st, 2012

First Solar (FSLR) looks ready to break out of the wedge pattern it has been in for the last two months after more than doubling from early June to late August. The upper trend line points to 26.30 as the breakout point, beyond which the stock could reach its March highs in the 29.30 area short-term.

Silver Wheaton (SLW) has been consolidating in an ascending triangle pattern after a steep up move from the 25 range in late July to around 40 in late September. Wednesday's move, up 1.24 to 40.50, took the stock towards the upper trend line, with 41 as the breakout point. Short-term target is 42.25.

United Rentals (URI) broke out of a several-week bullish pennant with Wednesday's move, up 1.94 to 40.66. The move also broke the stock above its upper rising trend line, with next targets at around 43 and then 46.60.

Builders FirstSource (BLDR) has broken above its upper trend line connecting tops from July and September in the 5 1/4 area. The stock, which started the year at around 2, looks poised to continue its uptrend, with the next target at 6 short-term.