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Active Screen - CANSLIM: March 18th

|Includes: Apple Inc. (AAPL), BB, BIDU, CTSH, FCX, GOLD, ISRG, VALE

There was no change on the stocks from last week. The Top-8 remain Apple (NASDAQ:AAPL), Vale S.A. (NYSE:VALE), Barrick Gold (ABX), Free McMoran (NYSE:FCX), Baidu (NASDAQ:BIDU), Research in Motion (RIMM), Cognizant Technlogy (NASDAQ:CTSH), and Intuitive Surgical (NASDAQ:ISRG). The Screener setup was as follows:



The selling which followed the tsunami in Japan put understandable pressure on stocks.

Apple (AAPL) was one of the hardest hit. It lost trendline support and its 50-day MA on higher volume distribution. The Steve Jobs health sell-off in January was another period of distribution in the $330-350 zone. From a technical perspective it will be important $330 support holds - although this time it's on the wrong side of its 50-day MA. There is also a possibility for a head-and-shoulder reversal if the next bounce stalls around $350



Vale S.A. (VALE) made it back to its 200-day MA where it offered picture perfect support. The question for it now is what can it do with it. The sharp downturn in the 50-day MA suggests a rocky road ahead, especially given the stock is trading in the no-mans land between its 50-day and 200-day MAs. Risk measured on loss of $31.



Barrick Gold (ABX) has a chart which offers a probable outlook for Vale S.A. (VALE). The January test of the 200-day MA followed with a push above its 50-day MA. It has since dropped below its 50-day MA and is only a few points off another test of its 200-day MA - a test which is more likely to fail.



Free McMoran (FCX) has enjoyed a stronger push higher, doing so before it completed a touch on its 200-day MA. The fast declining 50-day MA just above $54 is its likely next test.

Baidu (BIDU) has so far managed to defend $115 and is creeping higher. The 50-day MA sits above $115 and will be the first text on the next decline. The stock is trading in a relatively congested zone between $115 and $125. Given the recent high at $131.63 it looks like BIDU is experiencing controlled distribution. So a defense of the 50-day MA is key going forward.



Research in Motion (RIMM) clean sliced its 50-day MA and is heading towards its 200-day MA. There is support at $58 with an intraday overshoot down to the 200-day MA (just above $56) a decent possibility. Little to add at this point

Cognizant Technology Solutions (CTSH) finally lost its 50-day MA after a steady advance, but it did defend trendline support. The question is what will it do now it has recovered losses back to its 50-day MA.



Finally, Intuitive Surgical is poised at its 50-day MA which is bang on critical $320 support. The large breakout gap remains and subsequent trading volume suggests buyers hold the edge. If $320 (and therefore its 50-day MA) was to fail, then a swift move back to the 200-day MA at $300 is likely.