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Technical analysis shows water treatment and purification company Calgon Carbon is set to rise. (Getty Images)
Technical analysis shows water treatment and purification company Calgon Carbon is set to rise. (Getty Images)

What the Charts Say

Bullish on Calgon Carbon Add to ...

Calgon Carbon Corp. traded between $11.50 (U.S.) and $18 for the past four years (dashed lines). The stock started a sharp rise in 2012 (A-B), which brought the stock slightly higher than the top of the trading range, but which produced an over-bought condition. Calgon Carbon then pulled back to its 40-week moving average (40wMA - C) and later rallied and reached a higher high of $18.86 (D). A sustained rise above $19 would confirm the breakout and the start of a new major up-move. Only a decline below $16-$16.25 would be negative.

A rise above $19 would signal Point & Figure targets of $22 and $24.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

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