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Actionable news in DOW: DOW CHEMICAL COMPANY,

Dow Chemical (DOW) Stock: New Highs on the Horizon

NEW YORK (TheStreet) --Dow Chemical (DOW - Get Report) had a soft patch on the charts in July and August, but now it looks like it has regained its footing and new 52-week highs could be in the cards in the not too distant future.

In the first chart of DOW above, which is a key holding of Jim Cramer's Action Alerts PLUS charitable trust, we can see the summertime decline and breakdown below the 50-day moving average in July. DOW made a relatively quick recovery with a successful retest of the August low in late September and a subsequent rally with a significant pick up in volume. Prices quickly crossed back above the 50-day average and cleared the September highs. It then consolidated the gains as prices moved sideways in a tight range ahead of earnings.

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The three-year weekly chart above puts the correction and rebound in a better perspective. The price action of the past two years looks like a $40 to $55 trading range. Notice the...


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