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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 | |
---|---|---|---|---|---|---|
ADX | F | 0.060 | -40.00 | 3,958,346 | 4.49 | |
TOR | F | 0.052 | -5.45 | 2,899,467 | 4.04 | |
MPK | D | 0.170 | -8.11 | 1,052,571 | 3.10 | |
NCK | D | 13.840 | -1.70 | 958,597 | 2.39 | |
ABB | C | 3.590 | -0.83 | 415,968 | 0.98 |
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