Valentine's Day Trading Intraday Up and Down Trending Stocks …
Continuing our “Intraday Trend Trading” stock scans according to an algorithm I run mid-day, let’s take a look not just at the strong intraday uptrending stocks, but also the four “worst” intraday downtrending stocks.
Here’s the strong uptrenders on yet another uptrending session:
Our “Top Four Intraday Trenders include WellPoint (WLP), Travelers Insurance (TRV), 3M Company (MMM), and Aetna (AET).
Again, pro-trend traders will look to play retracement or pro-trend strategies for a possible continuation of the one-sided bullish Trend Day in motion.
Alternately, aggressive/experienced traders may seek to play any intraday reversal that may develop on a trigger-break under the rising 20 then perhaps 50 EMA (5-min).
Thanks to your feedback (I’ve received supportive emails), some of the readers requested that I downtrending intraday stocks into the scan.
It’s a great idea and I wanted to incorporate that feedback into the daily scans.
Here are four of the strongest intraday downtrends today (weakest intraday stocks):
Our four “Relative Strength Laggards” or strong downtrending stocks include Verizon Communications (VZ), Precision Castparts (PCP), Gilead Sciences (GILD), and Agilent Tech (A).
It would appear that the downtrending stocks – in the context of another strong bullish intraday trend in the US Equity Indexes – could be catalysts for reversal traders.
Nevertheless, intraday trends can continue beyond where we think they can, so approach these names and opportunities objectively (I prefer to monitor price relative to the 20 and 50 EMAs on the 5-min chart).
For a little background (and to see the outcomes), see the prior updates:
And the original February 10 Intraday Trenders
Also, the compilation post “21 Examples of Trend Days”
Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning strategies.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey’s new book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).
Original article:
Valentine's Day Trading Intraday Up and Down Trending Stocks …
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