I started out screening only for Island Reversals. However, I found some that were not true Island Reversals, but still looked very bullish. Here are 15 of my favorites, listed in reverse alphabetical order, of course.
Most of these have a MACD that is getting ready to cross the zero line. That would certainly be very bullish.
Universal Health Services, Inc. [[UHS]]
Synopsys, Inc. [[SNPS]]
Cohen & Steers Quality Income Realty Inc Cohen & Steers Quality Income Realty Inc [[RQI]]
Provident Energy Trust (USA) [[PVX]] Huge dividend.
Pengrowth Energy Trust (USA) [[PGH]] Huge dividend
ONEOK, Inc. [[OKE]]
NYSE Euronext [[NYX]]
Merck & Co., Inc. Merck & Co., Inc. [[MRK]]
Motorola, Inc. [[MOT]]
Mirant Corporation [[MIR]]
McKesson Corporation [[MCK]]
Danaher Corporation [[DHR]]
CMS Energy Corporation [[CMS]]
Allied Waste Industries, Inc. [[AW]]
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Yes Wood, lots of setups like these; which is why I bought a ton of them on the open Friday. We’re at an interesting junction: many stocks seem washed out enough to have created enticing setups, yet the markets & indices are still heavy & may be set up to break to new lows before embarking on the long sought after rally.
I won’t be adding this morning, I may lighten up some and slap on a few shorts to hedge just in case we have one more move down. I can’t imagine its off to the races right here.
Wood, Nice charts. When you said the MACD cross the zero line, you mean the cross on the trigger (Histogram goes from neg to pos) right?
Yes, Yogi, that was what I meant! Sorry if I wasn’t clear.
where do you get charts like this? my fidelity active trader pro is not impressive at all..
J, I screen for them in stockfetcher. In the case of this screen, there were many candidates, at least 100+. I then just peruse the charts in Stockfetcher, find the ones I like, then pull them up Stockcharts, and post them here.
Thanks Wood, the coffee hadn’t kicked in yet.