IBD 200 Breakout Scan
Some of you are confused by the two step process and some have valid question about what if the stock meets the 65 days less than 10% growth condition mid way through week.
To simplify all these kind of concerns you can run an integrated Telechart breakout scan.
65 Days Weakness Plus Breakout
(100 * (C1 - C66) / C66) < 10 AND ( 100 * (C - C1) / C1) >= 4 AND V >= 1000 AND V > V1
21 Days Weakness Plus Breakout
(100 * (C1 - C22) / C22) < 10 AND ( 100 * (C - C1) / C1) >= 4 AND V >= 1000 AND V > V1
Running either of the scan daily will give you list of breakouts, which one can then shortlist further.
The basic philosophy behind looking for weakness in high relative strength stock is line with the fact that when trading breakouts, one should look for higher per trade returns. Also such entries allow for pyramiding.
Similar logic applies to the Double Trouble universe.
To simplify all these kind of concerns you can run an integrated Telechart breakout scan.
65 Days Weakness Plus Breakout
(100 * (C1 - C66) / C66) < 10 AND ( 100 * (C - C1) / C1) >= 4 AND V >= 1000 AND V > V1
21 Days Weakness Plus Breakout
(100 * (C1 - C22) / C22) < 10 AND ( 100 * (C - C1) / C1) >= 4 AND V >= 1000 AND V > V1
Running either of the scan daily will give you list of breakouts, which one can then shortlist further.
The basic philosophy behind looking for weakness in high relative strength stock is line with the fact that when trading breakouts, one should look for higher per trade returns. Also such entries allow for pyramiding.
Similar logic applies to the Double Trouble universe.
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ARUN breakout
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