Idea search

K

KGTrader4

I’m trying to come up with a way to look at lots of charts, and also extract some ideas from it.

so I decided to start with the IBD 50. Went through all 50 names on the list this morning and looked at each chart, mostly looking for stocks forming reasonably tight bases. I came up with 20 names to watch. If anyone has time to waste (ha), and wants to look at these charts, and comment, that would be great. If not that’s ok, we are all busy. I’m just trying to formulate a process.
Here’s the list
Tuesday watchlist
CLF
MATX
MTFR
AMPH
MP
ACLS
HRMY
ATSG
CMRE
WCC
BX
ARES
CSL
JBHT
ONTO
REXR
ENTH
PSA
PANW
PKG
 
Which is pretty amazing, since these are supposedly the best of the best according to IBDs system.
I thought there were some decent basebuilding charts in the list, maybe not buying opportunities yet, but worth watching.

The more i do and the more i ask, the more i realize how little i know.
 
GotherL said:
Well you can probably cross out CLF MP & PANW.

Way overbought on that list.
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I was loose in compiling the list, knowing that I pad be culling it down before buying anything.

example, I’d wait for PANW to retrace half its recent semi parabolic move before buying , if I did buy.
 
KGTrader4 said:
example, I’d wait for PANW to retrace half its recent semi parabolic move before buying , if I did buy.
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Why?
I would not be afraid to buy PANW if it broke todays high.
No overhead resistance.
Today it sold of then demand came back in. If it continues to increase in price what will cause it to reverse?
 
deaddog said:
Why?
I would not be afraid to buy PANW if it broke todays high.
No overhead resistance.
Today it sold of then demand came back in. If it continues to increase in price what will cause it to reverse?
More...

and where would you put your stop?
 
upload_2022-3-30_11-15-14.jpeg


I got a terrible headache trying to decide whether to long or short those stocks.
you should look for stocks that are trendy (not choppy).
don't bother about trading those stocks that have already moved significantly.
 
upload_2022-3-30_11-34-41.png


OK. my headache is slightly better.

how to trade PANW?
Simply use a straight ruler.
but remember to check where the start of the uptrend.
 
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