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Stocks Making: Reversal New Highs Setup on
Rules (via 'Hit & Run Trading II'):
As always, the stock should be priced at more than $30 per share. The higher the price, the better
Today the stock must do all of the following:
For the buy: tomorrow only, buy 5 cents above today's high and risk 1 point.
Use a trailing stop and stay in the position until you are stopped out. This can be as short as a few hours to as long as a few days.
- It must trade under yesterday's low.
- It must then trade above yesterday's high (in other words, form an outside day).
- Today's range must be the largest range of the past five days, and today the stock must make a new 60-day high.
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Related Scans:
Bullish
Swing Setup
Or combine this in a:
Combo Scan
or a
Back-To-Back Scan
Symbol | Grade | Close | % Change | Volume | Vol Surge | |
---|---|---|---|---|---|---|
LYN | A | 0.410 | 20.59 | 1,875,621 | 5.81 | |
MGT | B | 0.315 | 16.67 | 518,960 | 4.82 | |
CGR | A | 0.415 | 29.69 | 1,221,859 | 2.15 | |
DCG | A | 0.285 | 1.79 | 1,152,555 | 1.83 | |
FEX | A | 0.290 | 3.57 | 488,303 | 0.45 |
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