Charts: Good Buying Opportunities in Stocks
There are good buying opportunities in the equity markets right now, Daniel Stillhart, technical analyst at LB Swiss, told CNBC Monday.
"Special cases" like McDonald's , Archer Daniels Midland and British American Tobacco have eluded the current bear market in the indices, according to Stillhart.
"Everybody tries to save money these days in the financial crisis and McDonald's profits from it," he said.
The fast-food company's stock is likely to test its previous high of $67, and if it breaks that, it may be heading to $70 a share, Stillhart said.
Soft commodities company Archer Daniels Midland recently hit its low of $13, which means that its stock is in an uptrend, and looks to climb to $31. If it rises above $31, Stillhart's next target for the agriculture group is $39.
British American Tobacco has further to go, according to Stillhart. He predicts the company's stock could rise to 1,940 pence ($31.62).