Is Bausch & Lomb Set to Move Higher?
TradingMarkets subscribers have access to
16 quantitative
stock indicators and another
17 quantitative market bias indicators. These indicators are derived from
our proprietary database that includes millions of trades, and designed to give
you a short-term trading edge.
There are 8 bullish and 8 bearish stock indicators, providing trading ideas for
both rising and falling markets. When used in conjunction with the market bias
indicators, traders can potentially achieve a substantial edge.
Each day, we provide free open access to one of these proprietary stock
indicators. If you would like to access all 16 stock indicators, 17 market bias
indicators, along with many other tools, click here for a free
focus list
that comes from our
2-Period RSI Below 2 list, which will be available until around 1 PM
Wednesday afternoon.
These are stocks that have a 2-period RSI reading below 2 and are trading
above their 200-day moving average. Our research shows that stocks
trading above their 200-day moving with a 2-period RSI reading below 2 have
shown positive returns, on average, 1-day, 2-days and 1-week later.
Historically, these stocks have provided traders with a significant edge. To
learn more about our research into stocks that have a 2-period RSI below 2, and
how to use this information,
click here.
Let’s take a closer look a chart from the list above. Keep in
mind that this is only one example from the indicator list, and that we are not recommending a trade
in this particular stock. Traders should always create individual focus lists
and radar screens based on their own information and trading strategies, instead
of blindly following other people’s recommendations.
Bausch & Lomb
(
BOL |
Quote |
Chart |
News |
PowerRating)
Bausch & Lomb (BOL) is trading above its 200-day moving
average, in a confirmed uptrend. Simply stated, this stock has gained more over
the past 200 days than it has lost. By technical definition, this is a strong,
uptrending stock. The TradingMarkets mantra is to “buy weakness, and sell
strength,” and that is what we would be looking to do here. Our database of
literally millions of trades proves that an edge to the long side exists when a
strong stock falls to extended, weak levels. With a 2-Period RSI reading below 2
yesterday, it’s clear that this stock is trading at extended levels. As the price per
share of BOL becomes more and more extended to the downside, the bullish edge
continues to grow.
You can find the full list
here. Also, Check out our
latest quantified research articles
here. If you don’t already have a TradingMarkets subscription, click here
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7 Trading Ideas for Today,
and develop your own watchlist of stocks with historically-backed edges.
John Lee
Associate Editor
Reminder: We are in no way
recommending the purchase or short sale of these stocks. This article is
intended for education purposes only. Trading should be based on your own
understanding of market conditions, price patterns and risk; our information is
designed to contribute to your understanding.