The March rally has moved many stocks into areas above downside resistance, an encouraging prospect for the bottoming out process. Stock Trends monitors for price movements above the secondary trend and categorizes these as Weak Bearish. Currently, 47% of trending stocks on the NYSE are Weak Bearish – See the Stock Trends NYSE Trend Distribution table and graph. The Stock Trends Picks of the Week filter focuses on these breakout opportunities, where price momentum pulls the stock out of a long-term bearish trend. If the market continues to rally, these stocks will be primary drivers.
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