These 50 stocks are ranked in top 4% by six month relative strength and are also within 8% of their six month high.
Some of them have earnings as catalyst. EK, APKT, LXK, CREE, TPX, SANM, ISSI are some with recent earnings. The earnings season is on and so some stocks with exceptionally surprising earnings are breaking out.
Strong stocks like these are double edged sword. Some can go up a lot and some might be near their top. So some will make good longs, some will make good shorts. When looking for long candidate look for 10 to 20 days of pullback or sideways move. That way you avoid getting in to overextended stocks.
To generate a list like this in Telechart you need couple of scans:
- 6 month relative strength scan : c/avgc126 (take stock ranked 96 plus using the scan)
- 6 month high scan: (100 * ((C + .01) - (MAXC130 + .01)) / (MAXC130 + .01)) (take stocks above -8% by this)
- Liquidity scan: MINV3.1 >= 1000
- Price >5
You can use the same scans to also finds weakest stocks in the market.