Many stocks mirror the market when it appears to be forming a bottom reversal patterns or when it is about to break out of a consolidation pattern and resume its upward trajectory. At times like these you are constantly being bombarded on the cable business news channels and in the business press with recommendations. At particular stages of a stock market’s life cycle like these, picking stocks is actually like “shooting fish in a barrel”. The problem isn’t being unable to find good stocks to buy but rather that there are just too many stocks with good looking charts and are on the verge of moving higher.
This is when you could use some help. Rather than your having to looking at thousands of stock charts, deciding the best buy points and then picking the ones that look the most ready to “pop”, subscribers have access to my Watchlist, the one I use to set alerts from my broker. The list includes:
- Summary Industry Group data
- Breakout levels – from a stock’s chart, the price at which it crosses above key resistance which could represent an excellent buy signal.
- Technical variables describing each stock’s price movement like Volatility, Beta and Relative Strength.
- Technical readings such as whether the stock is above its 200-day, 300-day moving averages or whether the stock is at new all-time highs.