TradingMarkets Chart of the Day
For today’s Chart of the Day let’s take a look at the
Stocks Ready to Surge list on the
Indicators
page to find a nice setup. These are the stocks that today made new 10-day
lows that are still in an uptrend as they are trading above their 200-day moving
average. These stocks should be viewed as pullback opportunities, as they
are strongly trending upwards despite making new lows.
Comcast
(
CMCSA |
Quote |
Chart |
News |
PowerRating) made
new lows of $33.76 on Friday, 8/11. CMCSA is also in a clearly defined
uptrend, trading well above its 200-day simple moving average. Look for
price to correct itself in the coming days, as price moves back from its
oversold conditions. We have a strong stock in an uptrend here, so don’t
expect it to stay beaten down.
Always Remember: Use
pullbacks to get a better price on your buy-in.