When markets and stocks undergo corrections like we are witnessing , you will at some stage see bottoming attempt. These kind of action dominates near lows for correction or lows for stocks or sectors.
See these examples from our 20% plus winner scan:
All these stock show up in 4% breakout or dollar breakout scans.
While selecting stocks from the scans I look for the one down most or one with highest downside momentum.
Similarly for anticipation focusing on stocks near low is better under these conditions. For example NFLX from yesterday which gave me 9 dollars move in less than an hour. The stock was near low and had narrow range day. That put it on my radar.
BA was another stocks like NFLX where I anticipated a bounce and it worked out well.
As market phase changes you have to change your tactics.
BA was another stocks like NFLX where I anticipated a bounce and it worked out well.
As market phase changes you have to change your tactics.
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