Below are the scan requirements for a Finviz Safe Swing Trade Scanner. This scanner looks for stocks that are doing good overall, but have fallen in recent days. The scanner also looks for stocks that are close to trend line support/resistance levels.
Market Cap: +Micro (over $50 million)
P/B: Low (<1)
Performance: Half Up
P/E: Low (<15)
Performance 2: Today Down
Return on Equity: Positive (>0%)
Debt/Equity: Under 0.5
Average Volume: Over 200K
Pattern: TL Support
I ran the Finviz Safe Swing Trade Scanner today and it found $BHE and $MY. I have to scratch $MY off the list as its going private soon. I looked at the company fundamentals for $BHE in Market Smith and found the following.
Estimates for 2017 are up. Its currently in a strong Relative Strength Group (A-) and the P/E isn’t too shabby. In Q4 they posted earnings of 0.45. If they can do that again in the upcoming Q1 that will blow away the previous earnings of 0.34.
On the chart the price is trying to get through recent resistances levels. If the stock can push through $22.25 it may have a chance to pick up a little stem. The last time this company posted earnings for Q1 was April 23. Today is March 3.
I’ll add this stock to my watch list and report its progress at a later date.