Total 18 stocks for the next week.
Some of them are inherited from the last week's scan. Those last week's picks that had breakout or the chart pattern became bad (only DSCO became bad actually) are not listed here anymore because they're no longer
Base and Breakout setup the weekly scan is about. It doesn't mean they're bad, actually some of them may still not be too late to chase high or worth waiting to buy pullback.
Except SHFL which is pullback to the breakout point thus might be the 2nd buy opportunity, all this week's picks are
Base and Breakout setup.
If you have question about why particular stock got selected, please do not hesitate to ask.
- HERE explained why most stocks chosen are at or near 52-week high. Generally you should buy 52-week high not 52-week low. HERE is my simple explanation if you don't want to read the lengthy link I provided.
- HERE explained how to determine your position size. Generally you cannot simply all in on one stock.
- HERE explained Base and Breakout Setup and how to trade, which is the major criteria most stocks were chosen.
- For buy pullback setup, I'll write another post as soon as I found a good example.
- All stocks must have 3 month average volume above 500K and the current day volume above 200K.
- No consideration of the broad market trend, the ER time. Those strong stock would sell off hard if the broad market corrects.
- It's auto scan. Not a stock recommendation, trade with your own risks!