My screen for bounce plays, involves a mixture of high-risk knife catching setups with out-sized reward setups, should the stock bounce as their internal indicators are starting to suggest. These stocks have taken a royal beaten of late, and while the trend could very well continue down in the short-term, there is becoming an increasing likelihood that these stocks could bounce any day now.
I annotated the ones with strong support levels that are being traded at, and may work as a launch pad to higher prices. Of those listed below, I like SuperMedia (SPMD) the best as it is trying to put in its second higher-high off of the bottom it reached back in mid-May.
Here are 6 Stocks Ready For A Bounce.
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>
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