TradingMarkets Chart of the Day
For today’s Chart of the Day, let’s take a look at the
Pullback From Lows list on the
Indicators
page. Most successful momentum-based traders and money managers like to
sell weak stocks after they pull back. TradingMarkets.com uses a proprietary
mathematical model to identify up to 20 (in strong or choppy markets there will
be fewer) weak stocks that have pulled back from recent lows. These stocks
should be considered potential candidates to resume their longer-term
downtrends.
Harland
(
JH |
Quote |
Chart |
News |
PowerRating) is trading
in a confirmed downtrend, well below its 200-day moving average. On August
14 price dipped to a nearly 2-year low. After finding some support, JH has
been rallying over the past few days. As price moves closer to the 200-day
moving average, watch for JH to correct itself and continue downwards in the
direction of the trend.
Pullbacks are great! Use pullbacks to
get a better price before the stocks resume their trend.