Finding Pullbacks in MarketSmith

 

In this week’s webinar, we discussed looking for pullbacks to significant moving averages as an alternative entry point. Institutions tend to support stocks at key moving averages such as the 50 and 200 day line.

If you miss a breakout, don’t give up and just forget about the stock. The stock could pullback to give you another opportunity to initiate your position. 

Pullbacks also create an opportunity to add to your position. In “How to Make Money in Stocks,” William O’Neil provides many examples of this type of price action. One of the examples used is Priceline (PCLN) in 2007:

The Screener is one of MarketSmith’s most powerful tools. It allows you to screen over 7,000 stocks in our database. Aside from creating your own screens, you can also view screens built by members of the MarketSmith community or our MarketSmith product coaches.

To view pre-set screens, click on the browse screen button as shown below:

If you select to view the “MarketSmith Screens” you can view and track the Pullback Screen dated 2/6/2012.

If you missed any of this week’s webinar “Interpreting Pullbacks”, you can find it here.

Best Returns,

The MarketSmith Team

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