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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 | |
---|---|---|---|---|---|---|
TRML | D | 13.23 | -5.84 | 1,165,807 | 3.17 | |
BMO | D | 83.30 | -1.32 | 1,435,969 | 1.63 | |
OBDC | D | 15.21 | -0.70 | 2,717,382 | 1.37 | |
RYI | F | 19.22 | -3.66 | 291,502 | 0.78 |
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