All posts from in,

More Big-Cap Leaders Nearing Buy Points

Slowly, more big-capitalization leaders are getting closer to completing new bases. A few weeks ago, many of the Big Cap 20 stocks were in the depths of price declines. But since late March, share prices have been trending higher, to the degree that some charts are well on track toward potential buy points.

Facebook (NASDAQ:FB),Chipotle Mexican Grill (NYSE:CMG), Nike (NYSE:NKE) and Reynolds American (NYSE:RAI) are within 5% of new entries.

In all four cases, new price highs would coincide with buy points, making them deserve immediate attention.

Also in all four charts, the relative strength lines are at or quite near new highs. Any time the RS line can make new highs while the stock is still basing, it's regarded as a bullish sign.

Another common denominator for the...