StockFetcher Forums · Filter Exchange · Investors Business Daily Filter Question<< >>Post Follow-up
SFMc01
296 posts
msg #54063
Ignore SFMc01
8/14/2007 4:17:32 PM

One of IBD's "Rules" is:

"Do not buy stocks up over 5% from a sound chart base."

Is there a way of making this into a filter? How does one define a "sound chart base?"

betyerbottomdollar
169 posts
msg #54065
Ignore betyerbottomdollar
8/14/2007 5:57:42 PM

Good question.

I have had luck considering the 20-day EMA a pretty good place to buy into. Even the high-flying stocks will have panic days that will send the price retreating to the 20-day and that makes a pretty good foundation to buy on. And a double bottom can make for a good base as well.

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