| Rockwell Collins (COL) bottomed out in July 2012 and has considerably moved up since then with over 60% & returns in just over 1 year. The stock in all of it's previous bull rally's has shown very clean patterns & had moved up with very little surprises & this time it's no different. The stock is still looking very strong & holding pivots well, despite a run-up of over 60%. Support levels for the stock are at 70, 67.5, 65.75 & 61. The support levels at 70 & 67.5 are minor supports & they would be useful for swing traders or day traders whereas the support level at 65.75 is a major pivot. Breaching 65.75 would place the stock is an extremely unsure zone with a lower support at 61. Below 65.75 the stock could be sideways to volatile for a while. But as of now 61 is the most important support to look at and at the breach of 61 the stock will turn bearish & end the present up-trend. Moving up-wards the resistance level of the stock is at 72.6 immediately, which might be a minor resistance & we do see the stock moving above this in the short term. Above 72.6, we see the stock hitting targets of 80, 85, 90 & 100 dollars, these target levels will also act as resistance levels where the stock might see some short to medium term sideways action. Rockwell Collins (COL) is technically very stable & has so far given very good returns. We see the stock moving up from here to much higher levels as long as the bullish structure of the stock holds well & so far it has. | |
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