Despite the strength seen in the US indices, last year was a lacklustre one for the FTSE 100 with the index down nearly 3%. But there are still some interesting looking companies within the blue chip section of the UK market. This week I have looked at companies where the share price has registered a positive change over the past three, six and 12 months. It’s the old column favourite: identifying a trend and looking to jump on board. According to Sharescope’s data mining function there are 53 FTSE 100 companies that meet this criteria and we now examine two of the more interesting ones.

Ashtead (AHT)

Buy £10.30

Target £13.50

Stop Loss 860p

Ashtead is an international equipment rental company; its share price has had an impressive few years, rising almost five fold since 2012. At the end of 2014, that strength was still very much in place with the price once again setting fresh all-time highs. There are various uptrends on the longer term chart. I have focused on the latest major rise starting in October 2013.

(Click on chart to enlarge)

The share price has eased back from those new highs, but this does not change the overall trend. There are various pockets of support for the price where we have seen buyers step in. The closest one for short term investors are the November 2014 lows just ahead of £10.00 which has been providing support so far this year. There is even stronger support from October 2014, coming in at 880p and this is the one we will use as a reference for the stop loss. Assuming the trend is going to continue, the expectation is for a run out to fresh highs and beyond.

Sports Direct International (SPD)

Buy 735p

Target 920p

Stop Loss 630p

The sporting goods retailer, led by Mike Ashley, has a quite different share price chart compared to Ashtead. Fresh all-time highs were hit in April 2014 but the price then spent the next six months in decline. Recent months have seen some confidence return and last year’s bout of weakness has not dented the long term uptrend from 2010.

(Click on chart to enlarge)

The chartist view on Sports Direct is that the decline is now over and a shorter uptrend is in place. Once again there are various levels of support with the first trend line support coming in around 680p and stronger support at 640p. Assuming the correction is over, a run back to those 2014 highs at 920p is the first target.