New 20 day low, volume >= 20 day average, prior 20 day low at least 4 sessions ago.
Scan criteria:
Scan criteria:
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 breakout the previous 20 day low (made at least 4 days prior to the current low) and go long.
NB. All we are doing here in this scan is to show stocks that have made a new low (following a previous 20 day low) for you to monitor for a potential reversal.
See also our new 20 day highs scan for a possible short 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!