High priced stock offer good opportunities for short term swing trades of 3 to 5 days. When they move they move in 10 to 25 dollar momentum bursts. This offers you an opportunity to risk say 1 or 2 dollar and try and capture a swing of 5 to 20 dollars.
MHK is an example of recent trade like that. The stock had setup an orderly consolidation of 13 days. During that 13 days the stock was in a very tight channel with series of narrow gain days. On 19th November it had a range expansion where that days move was greater than previous 5 to 7 days. That was the entry signal and that is the day I entered in the afternoon. In next 3 days the stock went up 10 dollars from its opening price . I closed the trade yesterday capturing part of the 10 dollar move.
In order to find swings in high priced stocks you need to scan differently from low priced stock. I use a simple range expansion scan to find these. The scan basically looks for stock with range greater than last 3 days range. The scan throws a wide net from which one can select good setup.
The essence of swing trading techniques is to find an explosive short term move and enter it with very tight stops and exit before the momentum exhausts itself. For active traders the market offers thousands of such moves once you setup your scans and methods to find such moves.