Close in upper 50% of daily range

S&P500 and NASDAQ100 for 05 May 2021

Other NYSE & NASDAQ stocks for 05 May 2021

Scan criteria for above:

  • 20 day period high
  • last 20 day high being at least 4 trading sessions earlier
  • volume >= 20 day average volume
  • close in top 50% of daily range
  • 20 day average volume or last volume over 500,000
  • last closing price > 4 USD

Close in lower 50% of daily range

S&P500 and NASDAQ100 for 05 May 2021

Other NYSE & NASDAQ stocks for 05 May 2021

Scan criteria for above:

  • 20 day period high
  • last 20 day high being at least 4 trading sessions earlier
  • volume >= 20 day average volume
  • close in bottom 50% of daily range
  • 20 day average volume or last volume over 500,000
  • last closing price > 4 USD

Notes

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