Chart of the Day: This Bullpen Name Still Intrigues From the Sidelines

It is not a very exciting name when you look at the overall stock market, but sometimes the most boring ones provide the best profit opportunity. Such is the case for Linde ($LIN), which is the world’s largest gas and engineering company based in Germany.

The chart shows this bullpen name has a nice base built from the Fall, and now a series of higher highs and higher lows. The chart shows blue bars, a strong bullish pattern on the GoNoGo composite of indicators. Momentum is strong, MACD overbought but on a buy signal, while stochastics are turning back up. Money flow is bullish too.

With the stock not far from the summer highs, we could see a modest pullback to the $500 level, at that point it could be an attractive entry.

As a member of the bullpen, we do not have Linde in TheStreet Pro Portfolio but are watching it closely.

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Posted by Bob Lang

Bob Lang is one of the country’s top options traders, an expert market technician, and a highly sought-after mentor and teacher. He is a private trader in equity and option markets and created his own hedge fund and options trading company called Explosive Options. He is also founder and Chief Options Analyst at Aztec Capital, LLC. He has been a regular contributor to TheStreet Pro's paid subscription products since 2009. Lang is both a short-term trader and long-term stock investor. He utilizes technical and fundamental analysis to find investment opportunities. His coverage for TheStreet Pro specializes in options trading, stock investing, and technical analysis. One of Lang’s claims to fame is his creation of the acronym FANG to describe the top tech companies at the time (Facebook, Amazon, Netflix, and Google). The acronym has since expanded considerably and is still widely used today. He is the author of the book “Know Your Options” and holds an MBA from the University of Redlands. When he’s not providing financial commentary for TheStreet, he can be found on the tennis court, reading, or traveling.

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