Tue Aug 26, 2014 12:35pm ESTComments Off on Five Stocks Which Are Rare Catches Today
Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.
I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.
Members can click here to view and save the screen.
Sorted for at least 500,000 shares of daily average volume to ensure liquidity.
We looked at one of my longs, JD, previously on the daily timeframe and spotted a bullish ascending triangle pattern.
Since then, the heavily-shorted China stock has mildly broken out.
But on the 30-minute chart, updated below, the stock has been basing tightly and looks like a Southwest airplane on the runway, with one of its famed cowboy pilots putting the plane into full throttle even before it makes the final turn to takeoff.
I am looking for $31.50, and especially $30.70 to hold below as support for the bull thesis to remain intact.