New 20 day high, volume >= 20 day average, prior 20 day high at least 4 sessions ago.
Scan criteria for above:
Scan criteria for above:
Monitoring 20 day highs and lows was a technique popular with the 'Turtle Traders' of the legendary commodity traders Richard Dennis and William Eckhardt experiment in the 80s.
They would use this as part of their trend following strategies and trade the breakout. Investopedia: Turtle trading article
However this technique led to severe drawdowns from a false breakout and methods were made popular to try to predict such a reversal. One method involves watching for price to break the previous 20 day high (made at least 4 days prior to the current high) and go short.
NB. All we are doing here in this scan is to show stocks that have made a new high (following a previous 20 day high) for you to monitor for a potential reversal.
See also our new 20 day lows scan for a possible long strategy.
Books on Turtle Trading
See also:
NYSE & NASDAQ Short-term pattern scans:-
NYSE & NASDAQ Medium-term pattern scans:-
NYSE & NASDAQ Medium-term trend pivot point scans:-
NYSE & NASDAQ Medium-term trend change scans:-
NB. Our scans are inspired by eminent traders and speculators of the present and past!