Blog Post: Day 7 of $QQQ short term up-trend; 209 US new highs, 10 lows and 66 at ATH; The GMI=6 (of 6); My weekly green bar scan yielded 18 candidates; see list and example charts.
My class is now learning how to use the setups I use. One of those setups is a weekly green bar setup. On a weekly chart, the bar is painted green if the stock has the 4w avg>10wkavg>30wkavg and the 4 wk avg this wk is greater than the 4 wk avg last week. The set up also requires the stock to have bounced up off of the 4 week average and to close higher than the prior week’s close. If I use this set up to buy I will place a stop loss below the week’s low price or its 10 week average. I ran a scan of stocks on my growth watchlist and came up with 18 stocks that met there criteria. I also want the stock to have doubled from its low the past year. I also required each to have a daily and weekly RWB pattern in the modified Guppy chart and to have hit an ATH in the past 12 weeks. Here are the 18 stocks that passed this scan and a weekly and monthly chart of one as an example. Note all of the green weekly bars and the prior GLB. FTAI has been on quite a run. When will it end?
And the GLB last August.
Blog Post; Day 6 of $QQQ short term up-trend; 14 growth stocks at ATH on Thursday that are at least 2.5x their 250 day lows; GMI=6
These are worth checking out. They are ranked by c/minl250. FTAI is 4x its 250 day low price.
