Tradable Assets Near Support Line
Stocks Sitting Near Support: Where the Bounce Could Start
The scanner is finding something interesting: a number of stocks are sitting directly on, or just above, important support levels. That does not automatically make them buys. It gives us something better — clearly defined areas where a bounce can be tested with controlled risk.
The strongest setups in this scan are ABI, FBRX, BR and AU. There is also a separate cluster worth watching in precious metals, with GLD, GDX, SLV and SIL all sitting relatively close to their 40-day support areas.
The Closest Stocks to Support
| Asset | Price | Support | Distance | Support | Scanner Score | Setup |
|---|---|---|---|---|---|---|
| ABI | $24.50 | $24.46 | +0.2% | 40-Day | 94 | Excellent |
| FBRX | $76.99 | $76.96 | ~0.0% | 40-Day | 78 | Excellent |
| BR | $156.93 | $156.86 | ~0.0% | 40-Day | 78 | Excellent |
| AU | $94.92 | $95.18 | -0.3% | 200-Day | 84 | Excellent |
| CBC | $32.03 | $32.28 | -0.8% | 50-Day | 89 | Strong |
| BRK-B | $502.65 | $507.38 | -0.9% | 50-Day | 92 | Strong |
1. ABI — The Cleanest Support Test
ABI is probably the cleanest pure support setup in the entire scan.
The stock was at $24.50 while the identified 40-day support was $24.46. That puts the stock only about 0.2% above support.
That creates an attractive situation because we do not need to chase the stock. The trade can be built around the support zone itself.
| ABI Trade Plan | Price | Potential Return |
|---|---|---|
| Potential entry zone | $24.40-$24.60 | — |
| Support | $24.46 | — |
| Risk / invalidation | $23.70 | -3.3% from $24.50 |
| Target 1 | $25.73 | +5.0% |
| Target 2 | $26.46 | +8.0% |
| Target 3 | $27.44 | +12.0% |
Estimated setup probability: 60-65% if ABI confirms the support with a reversal. Without confirmation, I would consider the setup much less attractive.
The first objective would be the 5% move. If momentum develops, the 8% and 12% levels become reasonable extension targets.
2. FBRX — Almost Sitting Directly on Support
FBRX is almost exactly on its identified support: $76.99 versus $76.96.
Technically, that is an extremely clean support test. The important thing is that the scanner is not telling us to chase FBRX. It is telling us that the stock is sitting at a level where a reaction can be watched.
| FBRX Trade Plan | Price | Potential Return |
|---|---|---|
| Potential entry zone | $76.50-$77.25 | — |
| Support | $76.96 | — |
| Risk / invalidation | $73.90 | -4.0% from $76.99 |
| Target 1 | $80.84 | +5.0% |
| Target 2 | $83.15 | +8.0% |
| Target 3 | $86.23 | +12.0% |
Estimated setup probability: 55-60% after confirmation of a bounce.
Because FBRX can move much more violently than the larger names on this list, I would use smaller position sizing rather than simply giving the trade a larger dollar risk.
3. BR — Support Is Almost Exact
BR is another unusually clean technical test. The scanner shows $156.93 against $156.86 support.
That means the stock is effectively sitting directly on the level.
| BR Trade Plan | Price | Potential Return |
|---|---|---|
| Potential entry zone | $156.50-$158.00 | — |
| Support | $156.86 | — |
| Risk / invalidation | $152.25 | -3.0% from $156.93 |
| Target 1 | $164.78 | +5.0% |
| Target 2 | $169.48 | +8.0% |
| Target 3 | $175.76 | +12.0% |
Estimated setup probability: 58-63% after a confirmed bounce.
The attractive part of BR is the potential reward-to-risk. A roughly 3% invalidation against a 5% first target gives approximately 1.7:1 reward-to-risk. An 8% target would be approximately 2.7:1.
4. AU — The 200-Day Support Test
AU is interesting for a different reason. Instead of testing a shorter moving average, it is sitting essentially on its 200-day support.
The scanner shows $94.92 versus $95.18 support, putting the stock about 0.3% below the identified level.
| AU Trade Plan | Price | Potential Return |
|---|---|---|
| Potential entry zone | $94.50-$95.50 | — |
| Support | $95.18 | — |
| Risk / invalidation | $91.75 | -3.3% from $94.92 |
| Target 1 | $99.67 | +5.0% |
| Target 2 | $102.51 | +8.0% |
| Target 3 | $106.31 | +12.0% |
Estimated setup probability: 60-65% if the 200-day area holds and price reclaims the support level.
The key signal would be a failed breakdown followed by a move back above approximately $95. That would be much more interesting than simply buying while the stock is below support.
Other Strong Support Candidates
The scanner also produced several other names that deserve attention, particularly CBC and BRK-B.
| Asset | Price | Support | Distance | Potential Entry | Target 1 | Target 2 |
|---|---|---|---|---|---|---|
| CBC | $32.03 | $32.28 | -0.8% | $31.90-$32.30 | $33.63 (+5%) | $34.59 (+8%) |
| BRK-B | $502.65 | $507.38 | -0.9% | $500-$507 | $527.78 (+5%) | $542.86 (+8%) |
| BEKE | $16.43 | $16.64 | -1.3% | $16.35-$16.70 | $17.25 (+5%) | $17.74 (+8%) |
| BBY | $87.97 | $86.93 | +1.2% | $86.90-$88.25 | $92.37 (+5%) | $95.01 (+8%) |
The Precious-Metals Cluster
This may be the most interesting group in the scan because the support signals are not isolated.
GLD, GDX, SLV and SIL are all relatively close to their 40-day support levels.
| Asset | Price | 40-Day Support | Distance | 5% Target | 8% Target | 12% Target |
|---|---|---|---|---|---|---|
| GLD | $380.14 | $376.88 | +0.9% | $399.15 | $410.55 | $425.76 |
| GDX | $87.78 | $86.33 | +1.7% | $92.17 | $94.80 | $98.31 |
| SLV | $54.69 | $53.90 | +1.5% | $57.42 | $59.06 | $61.25 |
| SIL | $86.50 | $84.89 | +1.9% | $90.83 | $93.42 | $96.88 |
How I Would Rank the Setups
| Rank | Asset | Reason | Estimated Confirmation Probability | Potential Upside |
|---|---|---|---|---|
| 1 | ABI | Almost exact 40-day support | 60-65% | 5-12% |
| 2 | AU | 200-day support test | 60-65% | 5-12% |
| 3 | BR | Almost exact 40-day support | 58-63% | 5-12% |
| 4 | GDX | Precious-metals sector confirmation | 55-65% | 5-12% |
| 5 | SLV | Silver support plus sector confirmation | 55-65% | 5-12% |
| 6 | SIL | Silver-miner support cluster | 55-65% | 5-12% |
| 7 | CBC | 50-day support | 55-60% | 5-8% |
| 8 | BRK-B | 50-day support | 55-60% | 5-8% |
What Would Make These Trades Valid?
The important word is confirmation.
I would not treat the scanner's support level as an automatic entry. The preferred sequence is:
- Price reaches or slightly undercuts the support zone.
- Selling pressure starts to weaken.
- The support level holds.
- Price begins reclaiming the nearby short-term range.
- Volume improves if possible.
- The trade is entered with a predefined invalidation level.
This approach gives the trade a chance to prove itself before capital is committed.
Bottom Line
This scanner produced several unusually clean support tests.
ABI stands out as the cleanest pure support setup, with price only 0.2% above its 40-day support. BR is almost exactly on its 40-day support, while AU is testing its 200-day area. FBRX is also sitting essentially directly on support, although its volatility means it deserves smaller risk.
The bigger opportunity may be the metals group. GLD, GDX, SLV and SIL are all near their 40-day support levels, creating the possibility of a sector-wide bounce rather than an isolated move.
The best trades here are not necessarily the stocks that bounce first. They are the ones where support holds, price confirms the reversal, and the upside target is large enough to justify the predefined risk.
Scanner snapshot and prices referenced in this article were supplied for the analysis. TradingView links are provided for chart review and additional research.
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