Scanning for Pullbacks within an Uptrend BY ART HILL
It worked , got 25 stocks
I ran a scan looking for stocks that fit the criteria for a pullback within an uptrend. As the scan code shows, I am looking for three things. First, the 5-day SMA is above the 200-day SMA (long-term uptrend). Second, CCI(10) and %B(20,2) became oversold in the last two weeks (short-term pullback). Third, StochRSI surged above .70 on Wednesday (momentum pop - almost). I used .70 instead of .80 because I want to include stocks that almost made it. I then look at the charts for further analysis. Here is the code:
[group is SP500] or [group is SP400] or [group is SP600] // looking for stocks
and [SMA(5, close) > SMA(200,close)] // long term trend is up
and [Min(10,CCI(20)) < -100] // pullback over the last two weeks
and [Min(10,%B(20,2)) < .25] // pullback over the last two weeks
and [Stoch RSI(10) x .70] // momentum pop
