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The impressive stock market rally is reflected in many stocks that have completed bottom or consolidation patterns. Holly Corp. (HOC), a Dallas-based refiner, was up sharply on Tuesday on four times the average volume. Next resistance is in the $40 area, and this was an $80 stock in 2007. There is support at $30-$32. Williams Companies (WMB) is a natural gas company that surged Wednesday on volume of 34 million shares. Next key resistance is at $24.50 and there is short-term retracement support at $20-$20.50.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.
