Relative Strength Index (Daily, 14) is between 50 and 80 PREV DAY CLOSE is greater than ANALYTIC Simple Moving Average (Daily, 15)Īverage Directional (Daily,14) is greater than 25 PREV DAY CLOSE is greater than ANALYTIC Simple Moving Average (Daily, 5) by 2% and less This scan combines a search for stocks trading in a narrow range over a five-day period with a scan for stocks that have all the technical indicators of upward momentum: These stocks are excellent candidates for a breakout, since short consolidation periods before the broader trend continues are very common. The main difference is that this scan looks only at stocks that very recently were making a steady directional movement on momentum. Scanning for momentum stocks that are making a step higher or lower after a period of consolidation puts together a lot of the elements of the other breakout scans. ![]() Searching for Momentum Stocks Stepping Higher For example, it’s possible to compare the 10-day low to the 52-week low. ![]() Keep in mind that you can expand the timeframes of the scan parameters to look for stocks experiencing months-long periods of consolidation.
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