Range expansion candidates from yesterday

With market bouncing hard post the Fed meeting , lot of stocks had range expansion. It was buying feast as many stocks that held up well during correction found buyers.

Data is example of kind of stocks I was buying yesterday. It had orderly sideways move during the market correction. It was not at all dented by overall market weakness in last few weeks. It also had momentum and Trend Intensity was above 105 indicating buying interest. Stock had breakout yesterday and offered good entry early.

To find candidates like DATA you have to actively look at setups from stocks with established momentum. Everyday I scan for stocks with Trend Intensity above 105 and look for stocks setting up well. During the day I run Range Expansion scan on that universe to look for stocks showing range expansion. As soon as good candidate shows up I buy. Swing trades like these offer several hundred opportunities in a year.

Other stocks I bought yesterday were HF and INFN . Both of them had similar pattern to DATA.

Another kind of trades to look for during market corrections is pullbacks. BABA is an example of that . I bought BABA 2 days ago once it reversed slightly from an orderly pullback.

If you want to be successful swing trader you must develop your setup ideas and scan for them daily. Money making opportunities show up if you do that.

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