Four Trades with Crossover Appeal: AUY, EL, BRCM, QCOM

Our Trading Reports in this Article:

• AUY
• EL
• BRCM
• QCOM

The tracking of technical indicators has become increasingly important as traders look to pick their spots in a new era of market volatility. In recent trading sessions, we have a few names that have broken into bullish territory or are on the verge. Here are stocks with crossover appeal.

Gold Rush

The gold mining sector and the price of gold itself have done little to move the needle in the last month, but one miner in particular is looking attractive on a technical basis for a short-term trade.

The 50-day moving average for Yamana Gold (NYSE: AUY) now sits at $15.26 versus $15.44 from its 200-day moving average. Investors have seen a slow, steady burn that has driven the stock price up the charts to the tune of 14.9% over the course of the past three months. If and when a moving average crossover occurs for this stock, it will be time for traders to raise their bets.

Estee Lauder (NYSE: EL) had a monster session on Tuesday as its common shares closed up a commanding 9.3%. The company beat top and bottom line estimates when it reported the results of its fiscal Q4. The run-up empowered Estee Lauder’s stock price to break above its 200-day moving average which makes this name worth a second look.

Dialing It Up A Notch

The semiconductor company Broadcom (Nasdaq: BRCM) checked in with record revenue when it reported its Q2 results last month. There is plenty of upside for this stock as more smartphone, tablets and mobile devices hit the market in the coming quarters with improving Wi-Fi chip speeds.

From a technical standpoint, the stock is on the brink of a major moving average crossover. The 50-day moving average presently sits at $33.15 compared to $33.99 from the 200-day moving average. Broadcom’s impressive Q2 has been a catalyst for the stock’s 11.2% charge during the last month. And there appears to be more left in the tank.

One other stock in the tech sector that is nearing a notable moving average crossover is Qualcomm (Nasdaq: QCOM). The digital telecommunications company has seen its stock spike 13.5% in the last month alone. The 50-day moving average of Qualcomm is closing in on the 200-day moving average and Qualcomm shares will be off to the races once this level is attained.

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