By Doug Busch

As markets rotate toward value, many of the old favorites investors once overlooked are quietly setting up as opportunities.

Stocks that lagged the tech-driven rally of the past few years are showing constructive technical patterns and attractive relative strength, offering a second look from our picks last year. With the broader market favoring sectors like energy, industrials, and consumer staples, revisiting these prior picks can reveal opportunities where patience and timing may be rewarded. Because sometimes the best ideas aren't new, but familiar ones finally finding their moment.

This week, we revisit:

   -- Chevron, introduced by Teresa Rivas last April. 
 
   -- Boeing, analyzed by Al Root last October. 
 
   -- Colgate-Palmolive, covered by Andrew Bary last October. 

This is a weekly column. Read last week's edition here.

Chevron, at almost 20% the second-largest weighting in the State Street Energy Select Sector ETF, is starting the new year on a roll, with gains of 9% already. Combine this with a dividend yield of more than 4%, and one has a solid rare combination of price appreciation and income. Chevron sits just 2% off its most recent 52-week high and this week seeks to conclude its first-five week win streak in 14 months.

Taking a longer-term view, Chevron's monthly chart offers several constructive technical elements. The stock has been a drag on the aforementioned XLE ETF since 2020, but this month moved back above its 50-month simple moving average. Candlesticks have played a pivotal role at major turning points, beginning with a bullish piercing line in April 2020 that was later successfully retested during the completion of a bullish morning star that November. Shareholders were right to grow cautious following a bearish engulfing candle in June 2022, followed by a doji that November. The stock now sits less than 2% below a buy point above a double bottom pivot at $169.06. I believe Chevron can advance toward $229 by year end, representing a 38% gain from current levels. Remain bullish above $152.

Chevron was trading around $167 Wednesday.

Boeing is off to a firm start this year, already up 14%. The stock is riding an eight week winning streak, its longest in at least five years. While relative strength versus the State Street Industrial Select Sector SPDR ETF has been only lukewarm since the fourth quarter of 2024, recent price action suggests momentum is beginning to reassert itself.

A look at Boeing's weekly chart reveals a bullish golden cross last October, with the 50-week simple moving average crossing above the 200-week simple moving average. The 200-week SMA has begun to tilt upward, suggesting a firming secular trend. The stock is now trading just above the very round $250 level, an area that has posed challenges in the past. Shares are currently holding above a $242.79 cup with handle pivot, which should provide additional upside. Notably, Boeing bottomed within this pattern last April following a bullish piercing line candle. I believe Boeing can advance toward $348 by year end, representing a 41% gain from current levels. Remain bullish above $226.

Boeing was trading around $249 Wednesday.

Colgate-Palmolive is starting to stretch its legs. While the stock is down 3% over the past year, it has already advanced 8% year to date. Bulls will want to see improved relative strength versus the State Street Consumer Staples Select Sector SPDR ETF as 2026 unfolds. Notably, the stock's combined 9% gain over the past two weeks marks its strongest two week advance in years.

Colgate-Palmolive has broken above a bullish inverse head and shoulders pattern at the very round $80 level on Jan. 8, rising nearly 5% on its strongest daily volume of 2026. While the stock still trades 15% below its most recent 52-week high, Tuesday's close marked its first move back above the 200-day SMA since July 7, a secular line that had acted as stern resistance on six prior attempts over the past year. The 50-day SMA is now curling higher for the first time since last May. Look for the stock to gravitate toward the very round par $100 level in the second half, an area last visited following a sharp bearish engulfing candle last March that closed 10% off intraweek highs. That would represent a 15% gain from current levels. Remain bullish above $81.50.

Colgate-Palmolive was trading around $84 Wednesday.

Doug Busch is the senior technical analyst at Barron's Investor Circle . His technical view is added to stock picks, including those published exclusively for Investor Circle readers. A glossary of technical terms is updated regularly with new entries.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

January 21, 2026 23:20 ET (04:20 GMT)

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