This scan produces bullish setups when slow stochastic turns from oversold and RSI rises above 50. The strongest setups confirm when price action rises back above the 9/21/50d moving averages, together with a bullish index (SPX/NDX/IWM), and the underlying sector is strong. The candidates below fit this criteria, so we’ll consider new positions on Monday, using a neasured approach. In other words, if the markets bounce and price action is bullish for a second day, we will SCALE into the stock buying a portion of our final desired size. This way, if we are wrong, we can stop out of the position will a smaller loss. We’ll add only if price rises.
Bullish Scan – RSI + Slow Stochastic
Click the links in the left most table or the charts on the right to enlarge image.
National Beverage Corp. (FIZZ) is an American beverage developer, manufacturer, and distributor based in Fort Lauderdale, Florida, focused on flavored soft drinks.
The Hain Celestial Group, Inc. (HAIN) is an American food company whose main focus is foods and personal care products. Their products range from Celestial Seasonings brand hermal teas and FreeBird brand chickens.
We are looking for these criteria for bullish setups / longs this week
- Relative strength
- RSI above 50
- Price above 9/21/50d moving average
- Price above VBP resistance
- MACD is above signal line or about to cross
- Stochastic rising from oversold
- ATR rising with price
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