5 PowerRatings Stocks for the Next 5 Days: SDP, STAR, SIGA, AZO, DXD
Stocks sold off in the final hours of trading on Tuesday, turning modest profit-taking into what could be the beginning of a more meaningful pullback.
If the selling from Tuesday does in fact turn into something more significant, then there is a good chance that we will be able to turn our attention toward those high Short Term PowerRatings stocks still trading above their 200-day moving averages. Some of the stocks that we will be on the lookout for over the next few days are listed below.
Traders should watch these stocks for both Short Term PowerRatings increases (8s becoming 9s, and 9s becoming 10s), as well as for lower levels in their 2-period RSIs. Both tend to be indications of the sort of oversold markets that we have successfully bought as they moved lower, becoming not just oversold, but extremely so.
However, if today was just profit-taking and stocks are on their way higher in the near term, then we should continue to keep our eye on markets with high Short Term PowerRatings. But those markets are more likely to be in short or inverse ETFs than in stocks (or regular ETFs).
Remember, as stocks move higher — especially during the Race to the 200-day — short and inverse ETFs move lower. And because so many of these short ETFs are trading above their 200-day moving averages, pullbacks in high Short Term PowerRating ETFs are potentially good buying opportunities for short term traders.
ProShares UltraShort Utilities ETF
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SDP |
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PowerRating) Short Term PowerRating 8. RSI(2): 3.43
Starent Networks Corporation
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STAR |
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PowerRating) Short Term PowerRating 8. RSI(2): 26.49
Siga Technologies Inc.
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SIGA |
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PowerRating) Short Term PowerRating 8. RSI(2): 9.61
Autozone Inc.
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AZO |
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PowerRating) Short Term PowerRating 8. RSI(2): 8.67
ProShares UltraShort Dow 30 ETF
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DXD |
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PowerRating) Short Term PowerRating 8. RSI(2): 30.86
The inclusion of both high Short Term PowerRatings stocks and high Short Term PowerRating short ETFs is indicative of the neutral position the markets are in right now. Again, upgrades in these PowerRatings or decreases in 2-period RSI should guide traders toward the potentially superior opportunities here.
Our highest Short Term PowerRatings stocks have outperformed the average stock by a margin of nearly 17 to 1 after five days. Click here to start your free, 7-day trial to our Short Term PowerRatings!