TradingMarkets Chart of the Day
Each day TradingMarkets publishes a scan of
Stocks Ready To Drop. These are stocks that today made new 10-day highs that
are still in a downtrend as they are trading below their 200-day moving average.Â
The list is sorted in rank according to how over-extended they are vs. their
10-day moving average, thereby focusing on the short-term over-extension.
Today’s chart of the day looks at RadioShack
(
RSH |
Quote |
Chart |
News |
PowerRating).Â
Last Friday the stock gapped well over its 10-day moving average, setting up for
a short-term reversal. On Monday we saw a continued move up, so watch for
(
RSH |
Quote |
Chart |
News |
PowerRating) to push back to its 10-day moving average over the next few days.
Check out the
TradingMarkets Indicators Page, where you can find a number of different
scans that can help you find stocks that are about to make a move. By
checking the page each day and tracking individual results, you will begin to
learn these patterns and pullbacks, giving you a personal edge that can only be
gained through hard work and research.
John Patrick Lee