Stage 4 Downtrend

Stan Weinstein called the declining phase of a stock cycle Stage 4. It is the mirror image of the Stage 2 uptrend: stacked falling averages show selling on every time frame. Long investors avoid these names; short sellers look for entries on rallies. This screen lists stocks on European exchanges trading below the 50-day moving average with the 50-day below the 150-day and the 150-day below a 200-day average that is lower than a month ago, down more than 20% in six months with a relative strength rank below 30, weakest first. Prices are in euros, and the list covers stocks traded on Xetra, Euronext Paris, Euronext Amsterdam, Euronext Milan and the Madrid Stock Exchange with at least 0.5 million euros in average daily trading value.