Top Ten Bullish Trending Stocks Extended above the 200 Day SMA October 18
Wed, Oct 18, 2:21 PM ET, by Corey Rosenbloom
Did you know this market will NEVER go down again?
Ok that’s not actually true but let’s take a moment to scan for the Top Ten Stocks trading the largest percentage above their rising 200 day moving average.
Using this simple scan, you can identify strongly trending stocks and either trade bullish retracement strategies… or aggressive ‘fade’ strategies.
Here they are:
The Technology Sector dominates the top 10 list with 50% of companies making the cut.
Nvidia (NVDA) and Micron (MU) both are trading over 40% above their rising 200 day Simple Moving Averages, indicating a strong trend in motion.
The goal of this simple scan is to bring to your attention extended and bullishly trending stocks in the market.
Again, traders who enjoy pro-trending strategies (such as buying pullbacks/retracements or breakouts) can use this as a foundational watchlist to build future trades.
If you happen to be a contrarian, then these are the most “overextended” stocks that you can begin watching for a possible mean reversion or “pullback/reversal” situation.
It’s up to you how you choose to use this list but here they are – in our non-stop bull market.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”
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SDI Glossary: "Trend" Definition
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