Follow the Bouncing Stocks

This week, about 50% of the stocks in the S&P 500 fluctuated closely around their 50-day moving averages. This reflects a market that is attempting to find temporary traction and effect a bounce.

Stocks Above 50-DMA View Chart » View in New Window »

As I wrote on Monday, if you're looking for a bounce, you have to know where to look. Technical bounces occur at previous levels of resistance-turned-support trend lines, Fibonacci retracement levels and retests of key moving averages. The 21-day and 50-day moving averages reflect short- and intermediate-term trends and often comprise areas that see reversal moves or short-term bounces in a stock. Continuing with that theme, here's a look at three more stocks that are attempting to hold above their 50-day moving averages....220 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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