iBankCoin
Joined Oct 26, 2011
153 Blog Posts

Looking For New Industry Leadership

Off of this brief oversold dip we may get a few new leaders to emerge. I want to look for stocks either up on the week or day or both that are rising on above average relative volume. This suggests that either on the dip these names didn’t sell off and may lead the next wave higher, or remain strong, and there is buying demand.

I picked these finviz labeled industry groups

Semiconductor – Integrated Circuits
Biotechnology
Drugs – Generic
Drug Manufacturers – Major
Internet Information Providers
Diagnostic Substances
General Building Materials
Education & Training Services
Semiconductor – Broad Line
Multimedia & Graphics Software
Business Services
Specialty Retail, Other
Rental & Leasing Services
Semiconductor – Specialized

Then I reduce that to the stocks in these groups with possible triangles and falling wedges that show some consolidation developing especially over the last 1 month to week.

http://bit.ly/2mYKEj9

Then I look at risk classification dynamically. If the group is lagging over the last 6 months, I only want to¬† look at 1s. If it is average to lagging I’ll look at 1s and 2s. If it’s leading I’ll look at 4s and 5s. If it is average to leading I’ll look at 3s and 4s. If there is an error returning information I’ll still include it.

That narrows the list.

http://bit.ly/2mjfdgh

Of those I might look more into these based upon how the charts look and monitor them over the next week or two for an action point or trigger:

http://bit.ly/2lEcjWp

 

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3 comments

  1. hattery

    Here’s the direct finviz link to the last 10 names.
    http://finviz.com/screener.ashx?v=211&t=ABEO,EBS,EDIT,FPRX,IMNP,INTC,LRN,MRTX,PTGX,VSH

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  2. hattery

    More of a bottom up approach but I condensed my lists by limiting the names to those with signs of earnings growth and earnings forecasted acceleration

    5% off highs:
    NFLX
    5-15% off highs:
    IBKC,MMYT,FARM,PFPT,TS,WWE
    15-35% off highs:
    CALM,CVI,DKS,EBMT,FIVE,INSG,LULU,PI,PJC,TSCO
    35-50% off highs:
    DEPO,JMEI,KGC,NAT,SLW,
    50+% off highs:
    ACHN,ACIA,AGFS,AUY,DRRX,CPST

    http://finviz.com/screener.ashx?v=111&t=NFLX,IBKC,MMYT,FARM,PFPT,TS,WWE,CALM,CVI,DKS,EBMT,FIVE,INSG,LULU,PI,PJC,TSCO,DEPO,JMEI,KGC,NAT,SLW,

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