These are downward-travelling stocks that either have...
These stocks are stretched so far to the downside that they are most likely ready to snap up
like a bungee jumper. They may make good bottom-fishing candidates. But there
are obviously no guarantees. These are very risky and are mainly presented
for curiosity's sake.
- an ADX Value of more than 50 (which indicates
a momentum that is way overheated), OR...
- a price that is at least 40% below the 50-day exponential moving average (EMA)
Stocks in this screen are presented in descending order by the percent below
the 50-day EMA, so the stocks at the top of the table are the ones that are
stretched in a downward direction the most.
See Bungee Jumpers table from several weeks ago.
PWR was a stock that had an ADX Value of 64 on Sep21,2001 with a price that was
over 45% below its 50-day EMA. It snapped back up 68% in only 8 trading days.
(As Of Sep21,2001)
A Bungee Jumper with ADX Value of 64
(As of Oct03,2001)
It jumped 68% in 8 trading days