TradingMarkets Monday Stock Movers: 3 Stocks for Swing Traders
Stocks are off to a strong start on Monday, as buyers continue to bid shares higher in the wake of Friday’s strong close and news of a massive $586 billion financial stability package announced in China.
If stocks move very aggressively higher over the next few days, then there is a chance that a number of stocks that are currently below the 200-day moving average will rally above the 200-day moving average. This will make pullbacks in these stocks potential buying opportunities.
Cryolife Inc.
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PowerRating) Short Term PowerRatings 8. RSI(2): 21.54
But given the rout that stocks in general have experienced over the past several weeks, that will have to be some pretty powerful rally. In fact, that kind of advance will probably only arrive at the late end of a bear market rally that extends for weeks – if not months — rather than a few days.
Integral Systems Inc.
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PowerRating) Short Term PowerRatings 8. RSI(2): 5.02
As such, the more likely path for stocks to take in another short term rally that brings the markets back into overbought territory. And if recent history provides any guide, then we will probably see opportunities emerge to bet against the rally, through low Short Term PowerRatings stocks and exchange-traded funds, as well as high Short Term PowerRating inverse/short ETFs
Life Partners Holdings Inc.
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PowerRating) Short Term PowerRatings 8. RSI(2): 12.59
There are however a few stocks that have been trading above their 200-day moving averages. And although stocks are moving strongly higher Monday morning in the first hour after the bell, any intraday weakness in these names may create an opportunity for swing traders to take positions that may move significantly higher in short order.
Of the three stocks in today’s report, all have Short Term PowerRatings of 8. Stocks with Short Term PowerRatings of 8, according to our research, have outperformed the average stock by a margin of more than 8 to 1 after five days.
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David Penn is Editor in Chief at TradingMarkets.com.