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I will take a closer look at the Chemicals sector today. The chart looks pretty interesting and the sector is still one of the strongest available in my database.

The chemicals reached a new high in May, pulled back sharply, but regained momentum in July. It printed fresh new highs in the first days of November and is moving now sideways at the top. This sideways move is "absorbing" the overbought conditions and could allow a new uptrend soon.
Time now to take a look a the strongest stocks:

Agrium Inc. (AGU)
The chart looks very similary to the index. New highs in May, pullback and breakout in November. The stock is showing a cup & handle pattern and could continue its run soon.

Albemarle Corp.(ALB)
The strongest pattern in the sector right now. The stock gapped up to new highs in October and is moving sideways in a symmetrical triangle since then. A breakout could trigger a nice follow through and send the stock much higher.


Air Products & Chemicals Inc.(APD)
Rallied to new highs in April, rolled over and resumed its uptrend. It printed new highs in the first day of November, but missed to follow through and pulled back to support. The chart is showing a potential first pullback pattern and could be ripe to start another leg.

Chart Courtesy Of TeleChart Swing Trading, Technical Analysis, Daily Stock Market Commentary.

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