This screen finds stocks that pulled back to the 78.6% Fibonacci retracement level of the prior advance and then reversed up. Fibonacci retracement levels, 23.6%, 38.2%, 50%, 61.8% and 78.6%, are drawn between a swing low and a swing high and mark where a pullback often pauses or reverses. A bounce from 78.6%, a deep retracement and often the last line before the whole move is retraced, confirms the level as support and often signals that the uptrend is resuming.
