Sunday, May 13th, 2007
A simple scan for stock breakout candidates
I’ve been using a simple scan to look for stocks forming nice bases and about to hit new highs.
The method might seem obvious, but it is rarely discussed.
I simply scan for stocks trading between 97 per cent and 100 per cent of their one-year trading highs.
At the moment I’m using a free site called incrediblecharts.com.
You have to sign up to the site. Then go to the top and click on ‘view’ then ’stock screens’.
After you’ve done that, click on ‘% of price high’. In the area labelled 1 year, simply enter 97% for the minimum and 100% for the maximum.
A lot of trash might be thrown up, but it gives you a good list of stocks close to their 1-year highs and often forming nice bases.
Word Count: 122. This entry was posted on Sunday, May 13th, 2007 at 7:59 am and is filed under Stock picks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
