Bungee Jumpers
These are downward-travelling stocks that either have...
- 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)
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.
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.
BEFORE
(As Of Sep21,2001)
A Bungee Jumper with ADX Value of 64
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AFTER
(As of Oct03,2001)
It jumped 68% in 8 trading days
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