The Geldpress team has just uncovered another excellent free stock screening tool for those that are completely opposed to paying fees for good financial tools. The downside to the free tools is that no one site has it all - clear and concise financial reports for at least 10 years, historical price data for stocks and options, and easy to use fundamental and technical stock screeners. But if you don’t mind jumping from site to site, you may want to add etrade’s clearstation site to your bag of tricks.

Start your search at the clearstation website, and then click tag and bag in the upper left hand corner. Then click on technical events under the first orange bar. There are 24 easy to use pre-programmed technical scans built in, but the one I find most useful is the first one on the list (Trending up - MACD bullish). You can limit each search to a particular exchange (NYSE, Nasdaq, etc), or bring up the results from all exchanges together. Clicking on the bullish MACD search initially brings up just the list of stocks with bullish MACD’s. A sample result is shown below from a July 16th screen:

Using the above data in combination with a more detailed chart view is highly advised. For a much more detailed view, click on one of the Graphs links, which will display the default detailed graphs as shown in the example below:

The top chart is a price chart using bar charts, which are much more useful then line charts because they show ranges of prices, and allow easy viewing of support and resistance levels. The top chart also shows red or green upper bars indicating positive or negative MACD.

The second chart is a volume indicator and very useful for confirming whether the price trend is accompanied by high volume spikes, or perhaps just a random price change. Next is the MACD histogram, which shows a more detailed view of the MACD then the top price chart does. The bottom chart is the stochastic histogram which can be used to measure overbought or oversold conditions. Registered users can customize individual graphs and settings.

Disclaimer: The data above is just a sample screen and in no way meant as a recommendation.