Updated from Mar. 3
Stocks were hit with heavy selling pressure on Monday pushing equity prices to levels last seen 12 years ago.
The market spared almost no name from the onslaught of the bears. However, a few stocks were able to buck to the downtrend and actually close flat to positive, such as
99 Cents Only Stores
Papa John's International
Any stock that was able to avoid going down on a day when every sector was sold-off, including safe havens like gold, can be looked at as a stock displaying some relative strength. Relative strength is simply a stock's price change over a period of time relative to that of a market index.
Considering a stock that went up or down for just one day isn't exactly the greatest measure of relative strength, unless that one day was a major move in the markets and the stock was able to buck the trend and show strength as the market was selling off.
If a stock was able to display some relative strength and trade higher on Monday, or just trade flat and not go down as much as its peers, then it could be signaling that when a rally occurs it will outperform and bounce back harder, since the major market players were unwilling to sell as they dumped everything else they had a position in.
With this in mind, let's take a look at the charts of a few stocks that displayed some relative strength on Monday and that have the potential to bounce back big if the market can rebound, including
To read (and see) more,
In early morning trading, shares of First Solar were recently trading at $115.40 (up over 4% for the day; up over 9% for the week).
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