TradingMarkets Chart of the Day
For today’s Chart of the Day, let’s take a look at the
Stocks Ready To Surge list found on the
Indicators
page. 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. They are
sorted in rank according to how over-extended they are vs. their 10-day moving
average. These stocks are simple pullback trades. We have an
uptrending stock that makes new lows, so you should watch for a correction into
the direction of the trend.
Equity Office Properties
(
EOP |
Quote |
Chart |
News |
PowerRating)
is trading well above its 200-day moving average in a confirmed uptrend.
On August 28 EOP make new ten day lows, to then rally for the day. This is
a strong sign, as the uptrending stock took a hit, only to reassert its upward
momentum. Look for this stock to keep moving up over the next few days.
Use pullbacks to your advantage; get a better buy-in price
when a trending stock bounces back from a loss.