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Stocks Making: Reversal New Lows 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 short sale: tomorrow only, sell short 5 cents below today's low 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 low.
-
Related Scans:
Swing Setup
Bearish
Or combine this in a:
Combo Scan
or a
Back-To-Back Scan
Symbol | Grade | Close | % Change | Volume | Vol Surge | |
---|---|---|---|---|---|---|
ATG | F | 0.295 | -10.61 | 542,467 | 2.51 | |
WAA | C | 0.825 | -0.60 | 145,656 | 2.42 | |
NXT | D | 15.770 | -3.67 | 3,273,034 | 1.39 | |
LYC | C | 6.800 | -1.02 | 4,161,372 | 1.30 | |
TOY | F | 0.051 | -5.56 | 109,716 | 1.24 | |
KMD | F | 0.370 | -3.90 | 302,363 | 0.77 |
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