WHAT ARE WE LOOKING FOR?
Stocks that are in the bargain bin. One way to find stocks that are overly beaten up is to look at moving averages. Today, we'll look for stocks that are trading the most below their moving averages.
MORE ABOUT TODAY'S SCREEN
A moving average is the average price of the stock over a period of time, such as 50 or 200 days. When a stock is trading well above a moving average, it can be a sign that it is overbought and may pull back. Conversely, if a stock is trading well below a moving average, it may be oversold and worthy of a closer look as a value play.
Today we'll look at Canadian stocks and trusts that are trading well below their 50-day moving averages. Companies and trusts must have a market capitalization of more than $200-million and trade on the Toronto Stock Exchange to qualify for this screen.
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Stocks trading most below their 50-day moving average
50-day 200-day 50-day 200-day % trading % trading
Price $ 52-wk 52-wk moving moving avg daily avg daily below below
Company name Symbol Dec. 17 low $ high avg $ avg $ volume volume 50-day MA 200-day MA
Quebecor World IQW-T 1.80 1.18 17.25 5.52 10.85 1,396,601 594,629 -67.4 -83.4
NovaGold Resources NG-T 6.15 5.90 20.44 15.36 16.30 688,005 395,152 -60.0 -62.3
Allen-Vanguard Corp. VRS-T 4.99 3.37 11.95 8.96 7.66 1,266,006 622,104 -44.3 -34.9
Cinram International CRW.UN-T 5.40 4.90 30.00 9.51 20.09 1,030,533 405,357 -43.2 -73.1
Laramide Resources LAM-T 5.06 3.95 16.70 8.03 9.81 282,409 356,878 -37.0 -48.4
Central Sun Mining CSM-T 1.05 0.98 5.11 1.58 2.93 1,022,325 755,383 -33.3 -64.2
Skye Resources SKR-T 7.05 7.01 19.34 10.46 13.33 34,772 57,974 -32.6 -47.1
Imperial Metals Corp. III-T 10.06 9.88 19.37 14.78 14.22 44,022 43,296 -31.9 -29.3
Corel CRE-T 8.25 8.25 16.77 12.00 13.63 481 3,096 -31.2 -39.5
Oncothyreon (D) ONY-T 2.45 1.95 10.38 3.53 6.15 78,153 65,329 -30.6 -60.2
True Energy Trust TUI.UN-T 2.83 2.76 8.35 4.04 5.30 259,323 207,569 -29.9 -46.6
Petrolifera Petroleum PDP-T 9.20 9.00 22.35 13.03 16.22 169,911 142,387 -29.4 -43.3
Wi-LAN Inc. WIN-T 2.39 2.32 7.97 3.36 4.37 759,314 710,680 -28.8 -45.3
Mega Uranium MGA-T 2.96 2.38 8.98 4.14 5.25 498,643 604,926 -28.6 -43.6
ATS Automation Tooling ATA-T 4.00 3.71 12.98 5.59 7.30 503,957 509,509 -28.4 -45.2
Thompson Creek Metals TCM-T 15.39 7.11 25.58 21.39 18.47 1,776,322 1,775,049 -28.1 -16.7
Corridor Resources CDH-T 7.35 5.40 12.25 10.18 10.37 78,403 125,446 -27.8 -29.1
First Calgary Petroleums FCP-T 2.65 2.24 7.55 3.67 4.73 1,818,401 1,008,020 -27.7 -43.9
Angiotech Pharmaceut. ANP-T 3.24 3.14 11.15 4.47 6.32 1,431,457 1,332,731 -27.4 -48.7
Starfield Resources Inc. SRU-T 1.02 0.23 1.93 1.40 1.13 996,361 2,726,675 -27.2 -9.8
Etruscan Resources EET-T 1.89 1.86 4.48 2.59 3.12 159,820 103,419 -27.0 -39.5
Western Forest Products WEF-T 1.38 1.37 2.46 1.88 2.07 11,727 10,553 -26.7 -33.4
Crystallex International KRY-T 1.95 1.92 5.70 2.65 3.64 1,005,315 1,480,705 -26.5 -46.4
Breakwater Resources BWR-T 1.68 1.57 3.69 2.27 2.50 8,364,735 6,522,180 -26.0 -32.9
Ivanhoe Energy IE-T 1.43 1.32 3.00 1.92 2.06 344,810 304,888 -25.6 -30.6
Antrim Energy AEN-T 4.14 3.95 8.73 5.53 5.95 119,376 118,780 -25.1 -30.4
SOURCE: GLOBE INVESTOR