5 PowerRatings Stocks for the Next 5 Days
Stocks ended Thursday mixed, leaving the Dow still deep in oversold territory and the Nasdaq edging higher from oversold extremes.
Of the five stocks and ETFs mentioned at the beginning of the week in the last 5 PowerRatings Stocks for the Next 5 Days column, two have moved significantly toward overbought territory. Traders who took advantage of the pullbacks in these two — Allegiant Travel Company
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PowerRating) and the Rydex CurrencyShares Japanese Yen Trust ETF, FXY
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And of the three stocks mentioned yesterday, two have begun moving significantly higher and are no longer the pullback trading opportunities that they once were. Those two stocks are Nippon Telegraph and Telephone
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This leaves us with three stocks that are still relatively oversold and may represent opportunity to the upside for short term stock traders. These stocks are:
iShares Lehman Brothers 20+ Year Treasury Bond ETF
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PowerRating) Short Term PowerRating X. RSI(2): 19.20
Royal Gold
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Quality Systems Inc.
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CH Energy Group
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PowerRating) Short Term PowerRating 9. RSI(2): 9.21
All of these stocks continue to have high Short Term PowerRatings of 8 or even 9. Remember that stocks with Short Term PowerRatings of 9 have outperformed the average stock by a margin of more than 13 to 1 after five days according to our research.
Stocks with Short Term PowerRatings of 8 have bested the average stock by a margin of more than 8 to 1.
To make it a not-so-even five stocks, I will add another high Short Term PowerRating stock with a low, 2-period RSI for short term traders to consider.
Green Mountain Coffee Roasters
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PowerRating) Short Term PowerRating 8. RSI(2): 2.69
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