This is something I learned in the Stockbee Advance Bootcamp from one of the Stockbee member who presented this strategy. I modified the strategy to focus only on few stocks.
Analyst upgrades or downgrades or price target change have potential to move stop big on that day or sometimes for weeks or months. I use thefly.com for this.
PANW had earnings on 11/25/2019 after close. Stock had rallied in to earnings. The earnings were so-so and they guided down. But that was not the reason I got interested. I saw a bunch of analyst lowering price targets and it down pre market on volume.
I like when bunch of 3 plus analyst upgrade or downgrade or up or lower price targets.
So this was worth risking 1 dollar.
Entered using OPG order (also called Market on Open order). As soon as I got entry , it started going down. Put one dollar stop. In next 3 minutes stock was down to 225. Closed position for instant profits of $3 dollars per shares.
Why I like these kind of setups. Risk is very low. At one dollar stop risk was .43%. Instant results, these kinds of plays at open tend to work instantly or stop you out instantly.
Setup fits in with my objective of finding trades with less than 2.5% risk.
If you are serious about making money trading , there are many low risk ways like these.