Tomahawk, WI 09/03/2014 (Basicsmedia) – Facebook Inc. (NASDAQ:FB), J C Penney Company Inc. (NYSE:JCP) and Tesla Motors Inc. (NASDAQ:TSLA) remain some of the top picks for CNBC’s Jim Cramer, having enjoyed enormous high movement in the market in the recent months. After analyzing their charts, Cramer remains optimistic on the stock surging even further in the coming months.
Tesla Motors Inc. (NASDAQ:TSLA) has already clocked its all time high with Facebook Inc. (NASDAQ:FB) nearing its all-time high. JCP looks to have sorted issues that affected its performance last year consequently doubling its stock price over the past seven months.
An analysis of Tesla Motors Inc. (NASDAQ:TSLA)’s chart shows that from when the company clocked its high in February to last week Friday, the stock looks to have been consolidating according to Cramer, and expected to make a push for the upside in the coming months.
“Given this stock huge rally today on even higher volume than Friday; it is clear to Fitz that Tesla is being bought by big institution investors who can really move stock prices and buy it aggressively. That’s why I believe this stock is just now starting its next leg higher,” said Mr. Cramer
CNBC’s Mad Money Contributor Dan Fitzpatrick believes that Tesla Motors Inc. (NASDAQ:TSLA) on its ongoing rally could clock highs of $389, a move that may take a year according to Cramer.
Facebook Inc. (NASDAQ:FB) daily chart also shows some similar movements like the ones on Tesla, and could clock highs of $100 according to Fitzpatrick. Facebook is already 40% up this year; its 50-day moving average is currently at the $70 mark meaning it has enough support to make a rush for the upside according to the ‘Mad Money’ analyst. Cramer maintains that Facebook Inc. (NASDAQ:FB) offers the best risk reward in its current market position.
Dan Fitzpatrick also remains bullish on J C Penney Company Inc. (NYSE:JCP) with a ‘buy’ rating although the stock has stagnated at the $11 mark. Fitzpatrick believes the stock could clock highs of $15 in the coming months especially on posting better earnings in the second half of the year.
“Frankly I have to tell you I am a buyer of J C Penney Company Inc. (NYSE:JCP) right here and that’s because it simply isn’t as best as it used to be. […] and as I said at the top of the show, the weakest retailers are better than the strongest domestic place, “said Mr. Cramer.