In this market it’s tough to find great charts. So, today you have two great ones; two companies that are investable and one that is in a long slide. The first great chart is that of Toll Brothers (TOL). They are one of the largest home builders in the United States. Until the recent market squishiness Toll Brothers has been a steady climber. The overall market downturn has the stock correcting, but not to the point of heavy drop like so many others. It is still above its trendline bottom and appears ready to get back to its climb. Buying opportunity? Unclear. But very possible.
The next great chart is in a similar position. Autoliv (ALV) is a Swedish manufacturer and distributor of safety systems for the automobile industry. The products include safety belts, airbag systems and pedestrian-sensing technology. The recent market correction has caused their chart to appear to be rolling over. But, previously it had been on a steady climb. Keep an eye on this one. It may get back to its trend. It may continue to roll over.
With the lack of great charts, it’s time to show you an example of a bad one. BCE (BCE) is a telecom service company based in Canada. It has been tanking. Its price has dropped around 33% in the last year. A fast drop of that magnitude would be easier to deal with than the long, slow dwindle that it has experienced. Late last year it looked to be pulling out of the decline, but in late January the decline resumed. If it has found its bottom, this may be the bargain a value investor has been looking for. But don’t hold your breath. It is more likely to continue downward.
Let’s hope the market has found its bottom and we can see great stocks get back to growth. Be patient. Wait to see where it goes as a whole. But in the meantime, we’ll continue to find the better the rare great ones and share them with you.