The SPDR S&P 500 ETF (SPY) sold off 2.15% on Friday and is now down more than 8% since the start of the year. Despite the bearish headlines that have become ubiquitous, there are still a number of buy candidates. Within the components of the S&P 500, 107 stocks are above their 200-day moving averages and in long-term uptrends. Nearly 300 stocks priced above $5 with an average daily trading volume of 500,000 shares or more, 296 to be exact, are above their 200-day moving average. These are stocks that could be considered buy candidates.
We’ve added a video to the TradingMarkets Training Video Series YouTube channel that can help you decide which stocks to buy now. You can watch it now by clicking here.