How to scan for strong stocks

Strong stocks are stocks that make big move and hold on to their gains and do not correct much . These stocks once they establish a trend can have multiple up legs.

The corrections on these kind of stocks tend to be shallow.

To find stocks with extraordinary strength in Telechart you can scan for them easily.

c/minl252>=1.8 and minv3.1>=100000 and c>=.75*maxh252

stock is up at least 80% from 52 week low

Stock is within 25% of 52 week high

volume for last 3 days is above 100000

If you run the scan currently you will get around 153 names. This reduces your focus universe to a very small number of stocks . Within that stocks that are in consolidation or pullback mode is what we are interested in .

A watchlist of the stocks in consolidation will allow you to enter them as they breakout or enter in anticipation.

ILMN is one such stock . It is setting up for possible breakout to upside from this level. A high volume breakout might lead to explosive move.

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