I'm releasing another new scan / signal today.  This one finds stocks forming the handle portion of a cup-with-handle pattern.  If you're not familiar with the cup & handle, here's a quick overview:

In the domain of technical analysis of market prices, a cup and handle or cup with handle formation is a chart pattern consisting of a drop in the price and a rise back up to the original value, followed a smaller drop and a rise past the previous peak. It is interpreted as an indication of bullish sentiment in the market and possible further price increases.

The cup part of the pattern should be fairly shallow, with a rounded or flat "bottom" (not a V-shaped one), and ideally reach to the same price at the upper end of both sides. The drop of the handle part should retrace about 30% to 50% of the rise at the end of the cup. For stock prices, the pattern may span from a few weeks to a few years; but commonly the cup lasts from 1 to 6 months, while the handle should only last for 1 to 4 weeks.

This pattern is a favorite of Investor's Business Daily (and CANSLIM & William O'Neil).  It was a little tricky to program but I think I've got it 90% of the way to where I want it to be.  I'll be fine-tuning the algorithm over the next few weeks to weed out stocks which shouldn't be making the cut.  

Try our Cup with Handle Pattern Screener.