<<What is the criteria for the different technical ranks>>
Scott, this was a simplistic yet hopefully valid technical exercise, using the 50 dma and the 200 dma. I put in some fundamental screens also. The rankings were subtle, as follows:
Rank 1: Price > 200 dma, close on Friday >95% of previous week's close, 200 dma increasing, 50 dma increasing
Rank 2: The rule on close was shifted to >90% of previous week's close
Rank 3: 50 dma increase rule dropped
Rank 4: 50 dma rule and 200 dma rule dropped.
No other technical screens were used.
My main goal was to find fundamentally strong larger cap issues where the weekly drop was not any worse than the market, and where the issue still seemed to have support, where I am looking for the 200 dma as support. As I said before, the fundamental screen I used was basically for historical P/E < 20, so DD is needed for these companies.
Since this screen returned a short list, I decided to not use any further technical screens. If support at the 200 dma is important, there just aren't many issues left that are there at this time.
Anyway, a novice exercise. I'll see how it works.
David
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