Several times a week I spend some time running a variety of scans looking for opportunities that have not made it on to my radar screen. One such scan is a Money Flow Index scan using StockFetcher. Here is the syntax:
Show stocks where Money Flow Index (15) crossed below 20.00 within the last 1 day
and Average Volume(90) is above 50000
and close is between 5 and 250
So what does all that gibberish mean? Let’s break it down. I am looking for stocks that have seen the MFI cross below the 20 level within the last day with average volume above 50,000 shares and price between $5 and $250.
Here are some of the results today: