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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 | |
---|---|---|---|---|---|---|
TBN | F | 0.125 | -13.79 | 3,255,355 | 4.37 | |
WKT | F | 0.096 | -2.04 | 608,773 | 2.40 | |
JHX | D | 48.860 | -2.03 | 1,615,633 | 1.50 | |
HDN | C | 1.215 | -1.22 | 4,177,712 | 0.93 | |
WAM | C | 1.485 | -0.67 | 608,358 | 0.62 | |
SM1 | F | 0.340 | -5.56 | 34,419 | 0.23 |
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