What is this?
This is an experimental watch list for stocks that meet my specific technical criteria. The idea behind this list is to provide a trackable list of screened stocks that meet my candlestick, RSI, and bollinger band criteria, producing between a reliable 5-10% gain consistently.
The criteria are as follows:
1. NASDAQ or NYSE stocks, priced from $1 to $25
2. Stock price is candling red
3. Most recent red candlestick is split virtually evenly by the lower bollinger band (14,1)
4. RSI(14) is 45 or lower
5. Stock is not poised for any major correction
6. Stock does not appear to have any major news forthcoming
When a stock meets these criteria, based on my research, it stands a very high liklihood of dropping one additional day, then correcting upwards to the middle bollinger band, reaching that target in the coming 5-10 days, which is the sell point.
Will this strategy work? We shall see. I'll post stocks on my watch list and also document which stocks I choose to trade with.
This is NOT an "OOH! BUY BUY BUY!" thread. This is NOT a thread that will be full of 5 baggers. If successful, this strategy will document a series of stocks that gain 5-10% per week. I'd be more than happy with an exponential 5-10% weekly (10% weekly would turn $7k into $974k after commission by year's end.)
Do your own DD before entering any stock that I mention here.
Good luck. I hope this produces something fruitful.
This is an experimental watch list for stocks that meet my specific technical criteria. The idea behind this list is to provide a trackable list of screened stocks that meet my candlestick, RSI, and bollinger band criteria, producing between a reliable 5-10% gain consistently.
The criteria are as follows:
1. NASDAQ or NYSE stocks, priced from $1 to $25
2. Stock price is candling red
3. Most recent red candlestick is split virtually evenly by the lower bollinger band (14,1)
4. RSI(14) is 45 or lower
5. Stock is not poised for any major correction
6. Stock does not appear to have any major news forthcoming
When a stock meets these criteria, based on my research, it stands a very high liklihood of dropping one additional day, then correcting upwards to the middle bollinger band, reaching that target in the coming 5-10 days, which is the sell point.
Will this strategy work? We shall see. I'll post stocks on my watch list and also document which stocks I choose to trade with.
This is NOT an "OOH! BUY BUY BUY!" thread. This is NOT a thread that will be full of 5 baggers. If successful, this strategy will document a series of stocks that gain 5-10% per week. I'd be more than happy with an exponential 5-10% weekly (10% weekly would turn $7k into $974k after commission by year's end.)
Do your own DD before entering any stock that I mention here.
Good luck. I hope this produces something fruitful.
On another office computer for the time being...
I was so surprised to see that it was successful, I decided against taking a chance and sticking to my target exit at 1.32. Hard to say no to locking in profits. 
Another good target entry at 1.96 with my expected 5-10 day exit at 2.11, for a projected profit of roughly 8.1%.
If I had stuck to my guns and bought at my target entry, then sold at my target exit (instead of bailing with a 6% gain), I would've made the full 10.6% profit! 
