On a day when the market gave back some of its recent gains, one scan I run is for stocks that have pulled back to SMA20 (often support) on above average volume. In other words, these stocks where in a general short-term uptrend (above SMA20) and fell back on significant selling. Now, what we’re hoping for is a market bounce tomorrow and all of the weak hands that were pushed aside in these stocks will come back and you’ll see the trend up continue. You’ve heard it before – buy on dips.
Here are the stocks that fit this criteria – remember, most of these will need an up day in the market tomorrow to springboard off SMA20.
