Reversal Patterns: 15 Charts

October 19, 2008 – 10:19 pm

I started out screening only for Island Reversals. However, I found some that were not true Island Reversals, but still looked very bullish. Here are 15 of my favorites, listed in reverse alphabetical order, of course.

Most of these have a MACD that is getting ready to cross the zero line. That would certainly be very bullish.

Universal Health Services, Inc. [[UHS]]

Synopsys, Inc. [[SNPS]]

Cohen & Steers Quality Income Realty Inc Cohen & Steers Quality Income Realty Inc [[RQI]]

Provident Energy Trust (USA) [[PVX]] Huge dividend.

Pengrowth Energy Trust (USA) [[PGH]] Huge dividend

ONEOK, Inc. [[OKE]]

NYSE Euronext [[NYX]]

Merck & Co., Inc. Merck & Co., Inc. [[MRK]]

Motorola, Inc. [[MOT]]

Mirant Corporation [[MIR]]

McKesson Corporation [[MCK]]

Danaher Corporation [[DHR]]

CMS Energy Corporation [[CMS]]

Allied Waste Industries, Inc. [[AW]]

This entry was posted on Sunday, October 19th, 2008 at 10:19 pm and is filed under Evening Screen Results. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

6 Responses to “Reversal Patterns: 15 Charts”

Juice Says:

Yes Wood, lots of setups like these; which is why I bought a ton of them on the open Friday. We’re at an interesting junction: many stocks seem washed out enough to have created enticing setups, yet the markets & indices are still heavy & may be set up to break to new lows before embarking on the long sought after rally.

I won’t be adding this morning, I may lighten up some and slap on a few shorts to hedge just in case we have one more move down. I can’t imagine its off to the races right here.
October 20th, 2008 at 5:54 am
Yogi & Boo Boo Says:

Wood, Nice charts. When you said the MACD cross the zero line, you mean the cross on the trigger (Histogram goes from neg to pos) right?
October 21st, 2008 at 7:51 am
Woodshedder Says:

Yes, Yogi, that was what I meant! Sorry if I wasn’t clear.
October 21st, 2008 at 9:49 am
j Says:

where do you get charts like this? my fidelity active trader pro is not impressive at all..
October 21st, 2008 at 9:57 am
Woodshedder Says:

J, I screen for them in stockfetcher. In the case of this screen, there were many candidates, at least 100+. I then just peruse the charts in Stockfetcher, find the ones I like, then pull them up Stockcharts, and post them here.
October 21st, 2008 at 10:19 am
Yogi & Boo Boo Says:

Thanks Wood, the coffee hadn’t kicked in yet.
October 21st, 2008 at 10:34 am