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Today we do scanning for our weekly webinar. For our long scan we look for over 10% short float and 0-3% below the high. The first chart we look at is BABA which is consolidating on the daily. ATHM is another that has an attractive setup. TTD is another one that pops up.
We then look for shorting opportunities. We look at the same short float but look for things 0-3% near the lows. CHK is the first one we look at. GPS is the next one we look at. After looking at the 30 minute we find a nice cliff point on the 30 and 15 minute charts. CNX also pops up and Clay explains why it’s at support and not a cliff point. We have another debate regarding if WSM is at a cliff point or support.
We now scan for wolf candle charts. SYMC is the first one that we look at today and it forms a beautiful wolf candle at the 50 simple moving average. ENDP is the next one we look at.
The last scan we do is for a panic buy setup (covered in RvR Trading). We have the 20sma above the 50. The 50sma above the 200. Range, 0-5% below the high. ROL is the first ticker that we take a look at.