Although the STI gap down today, it should be a moment to look for short candidate now. However, I did a scan for Long candidate using my moving average rule. To my surprise, there is a counter appeared on the filter list.
It is TAC.
The stock has been forming higher high and higher low since beginning of this year. This is a key characteristic of a uptrending stock. My screening rule pick it up because it is trading almost on the 50d MA line now. If it rebounds from this level, there is a probability of resuming its uptrend.
Look at the MFI indicator, it is below the 20% line, suggesting that it is oversold. Look at the similar event around mid May, MFI was below the 20% line and see how the stock up its upwards momemtum after that. So, this increases the probability that it is gearing upwards.
The only slight concern that I have is its volume. It is trading at very thin volume now. Volume is the fuel of the market and we need fuel to drive the rocket to the sky 
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
