Short term breakout candidates are stocks from the regular pool of high quality companies according to the Modified Magic Formula which have been filtered automatically according to the “Almost Up” and “Almost Down” price pattern on their 15 Minute charts. These charts are checked back in time 260 candles which are approximately 2 weeks.
The filter checks to see if the stock price is near the top 5% of the 2 week range and about to challenge it and might break up soon.
The mirror image is also considered and the “Almost Down” filter checks to see if the latest stock price is near the lowest 5% of the 2 week price range. If it does, it spits out the ticker for that stock.
So, here is the list of today’s stocks for Almost-Up: $IBB, $DAL, $MBT, $NIE, $BKE, $STX, $VOD, $ALK, $CHL, $CHY, $GMLP, $ARCC, $TTM, $ARII, $COL, $CHT, $AIT, $SNDK, $LULU, $KSS, $CNVR, $GD, $PH, $FDS, $AMGN, $MJN, $HII, $ACM, $EL, $GPN, $BAM, $AI, $AOS, $LAZ, $LUV
And for “Almost Down” we have just these two today: $BHP, $PHX
Soon I will automate this filtering and daily charts will appear here with the help of some server code and magic.
Here are some charts of the first 6 tickers.