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Chartology: 3 Bullish Stock Charts

Carter Worth has been poring over charts looking for bullish technicals and he's found some patterns you should know about.

Microsoft

The first chart is Microsoft - Carter Worth says technicals suggest it’s time to get long.

According to patterns in the charts “we think it holds here at $26 and bounces back to $30.” Play it for catch up, he says.

”When a stock is in a downtrend and then has a quick recovery back to and above the smoothing mechanism (150 day moving average) and then falls back – it’s a good rebound juncture,” Worth explains.

Symbol
Price
 
Change
%Change
MSFT
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He's also bullish two other names Kraft and Dover.

"Kraft had well defined tops at $30 and then broke out to $33, says Worth. "Now it's back at $30 - right at 150-day. The next move should be a pop," he says.

Symbol
Price
 
Change
%Change
MDLZ
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"And Dover had a well defined top as well," he says. "In fact $55 had been the top for over 10 years. A break here could be an epic thing. I'd play it for mid-$60's," he counsels.

Learn more about these trades. Watch the video now!


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Trader disclosure: On November 15, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL), (BAC), (POT); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Terranova owns (UPL), (C), (PEP), (OIH), (HES), (AXP), (GS), (FCX), (VRTS), (POT), (AAPL), (IBM), (DIS), (MCD)

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