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9 posts
msg #43622
Ignore gobi
5/11/2006 3:11:45 AM

I need help on a scan that can identify the following:

1. The stock is moving in an upward trend over the last one to two months. That is, the trend is identifiable such that I can draw a trend line by drawing a line through the lows.
2. Within the last ten days, there was a false breakdown. The closing price dropped below this trend line.
3. However, in the next one to two days, the price went back above the trend line and continued its upward trend.

I am having difficulty in figuring out how to do 1. I know there are predefined scans that scan for 45, 60, and 90 day channel. However, I need to be able to define a variable that represents this trend line so that I can check for prices that close below this variable. How do I do this scan? Thanks in advance.

1,373 posts
msg #43624
Ignore EWZuber
5/11/2006 4:09:57 AM

Do you have a particular stock in mind that has actually done this?

9 posts
msg #43677
Ignore gobi
5/12/2006 4:14:10 PM

A good example is NCTY:

It has been in a steady upward trend but if you look in around mid-March, there was a big dip only to gap up later.

Another example is SMDI:

If you take a look at the beginning of the chart, you will see it was starting to go in an upward trend but at around mid-Dec 05, there was a small dip as well but it quickly closed back up in the next day or so and resumed its uptrend.

Hope that helps.

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