Auto Stocks Going Higher

The main indexes are moving up. Auto companies in the Consumer Goods sector are doing particularly well recently and helping the market’s upward trend. Following is the details of four companies:

Delphi Automotive: Listed just a few months ago, the auto parts company has moved up steadily from $22.24 to $31.88. The trend is expected to accelerate in 2012. Currently the trend appears higher. The next target seems $35.

Magna International: Another auto parts manufacturer is also making gains this year. During current year it has moved up steadily from $34.02 to $47.43. The trend remains higher. Resistance is expected at psychological barrier of $50. The stock provides a chance to pick against a small risk.

Toyota Motors: The Company has so far risen 24.89% this year from $67.78 to $84.65. Support level for this stock is at $78.16. If it passes $85, the next level is below $90.

Honda Motors: The Company has so far risen by 23.93% this year from $31 to $38.84. Substantial resistance appears at $40. The trend seems up and a further rise cannot be ruled out.

SUMMARY: The market is in upbeat mood and shares of these auto companies are assisting to push it even higher.

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Leo Pierson

About Leo Pierson

Former partner in a real estate management firm, Leo, has been active in the market for the last 8 years. Ex-blogger on penny stocks, now focused on long term growth stocks, Leo provides valuable market snapshots each day as part of our editorial team.

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