Recently I created the scan for stocks making yearly Relative Strength (compared to the Russell 3000) highs and now I created the scan for stocks making Relative Strength lows. I believe this could be a good scan to run when we have seen a run like we have in the market as it highlights stocks that have been acting week. I have uploaded the stocks to FINVIZ and they are sorted by volume. If you are not familiar with FINVIZ I suggest you should as I have found it to be the best all-around free financial site out there. There are many features to take advantage of from screening to technical data to fundamental data.
Below are the stocks that returned. These are all optionable stocks as I like to use that feature because it acts as a liquidity filter and one can also look at option volume for possible direction.
Optionable Stocks Making Yearly Relative Strength Lows
Some notable stocks:
ADM – bear flag pattern, 26 acting as resistance
MCD – a favorite “safe” stock, smacked on earnings and gap high near 90 acted as resistance
USTR – keeps testing 25 level and failing (prior support)
FXE – can’t really measure this on a RS basis as its a currency and not a security, but do like the pattern as a short
WRE – prior support of 27 now acting as resistance
MCY – bear flag pattern
FXF – same note as FXE
UDN- same note as FXE, so bullish on US Dollar here (or UUP)
