My support level on major indexes is the 50-100 Day MACD Oscillator and you can see that we are below that level and climbing slightly. I usually say above the 20 DMA - On Your Mark; above the 50 DMA - Get Set and when you are above the 100 DMA - GO!.
In addition, when I consider the 10,000+ stocks in the Barchart data base the majority are still trading below their moving averages. As I write this article the percentage trading above their DMAs are:
- 42.13% - 20 DMA
- 20.09% - 50 DMA
- 21.07% - 100 DMA
At the bottom I can say : "Runners" but not "On your mark" just yet.
This morning I used Barchart to sort the NASDAQ 100 stocks first for the highest technical buy signals, then I used the Flipchart feature to review the charts. Nothing here to really brag about but here are 5 stocks that weren't hurt too bad in the recent market weakness.
The list today includes Dollar Tree (DLTR), Ross Stores (ROST), Kraft Heinz (KHC), Facebook (FB) and Mattel (MAT).
Dollar Tree (DLTR)
Barchart technical indicators:
- 96% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 4 new highs and up 3.76% in the last month
- Relative Strength Index 64.11
- Technical support level at 76.63
- Recently traded at 80.92 with a 50 day moving average of 76.24
Ross Stores (ROST)
Barchart technical indicators:
- 88% technical buy signals
- Trend Spotter hold signal
- Above its 20, 50 and 100 day moving averages
- 2 new highs and up .67% in the last month
- Relative Strength Index 59.46%
- Technical support level at 52.67
- Recently traded at 55.44 with a 50 day moving average of 53.08
Kraft Heinz (KHC)
Barchart technical indicators:
- 72% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 4 new highs and up 3.45% in the last month
- Relative Strength Index 65.55%
- Technical support level at 74.70
- Recently traded at 77.26 with a 50 day moving average of 72.58
Facebook (FB)
Barchart technical indicators:
- 72% technical buy signal
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 3 new highs and up 4.93% in the last month
- Relative Strength Index 67.12%
- Technical support level at 102.56
- Recently traded at 112.69 with a 50 day moving average of 103.07
Mattel (MAT)
Barchart technical indicators:
- 64% technical buy signals
- Trend Spotter sell signal
- Above its 20, 50 and 100 day moving averages
- 1 new highs and 1.95% off its high in the last month
- Relative Strength Index 57.16
- Technical support level at 26.32
- Recently traded at 26.91 with a 50 day moving average of 26.11