I'm not sure if this is really the best way to accomplish the task you want to automate, but yes, it's possible. This example macro shows how it can be done:
Move Mouse Until Color is Under Cursor.kmmacros (3.8 KB)
Just make sure to use the image the words you're using now, and to set the color appropriately. You can adjust the number in the X axis field (marked with a right arrow, currently set at 3) to control how quickly the pointer moves, though of course if you make this number too high it may end up skipping over the color you want it to stop on.