This screen finds stocks approaching a strong resistance line where there may be opportunities to short the stock.
The Stock Screener supports different support and resistance trading strategies. Some examples are listed in this article.
Use the stock screener to find mean reversion trading ideas
In this video I am going to share with you 5 different short screening ideas which will help you to find the best short trading setups.
The minimum price should be above 5.
This will filter out all non-US stocks.
The resistance line should have a minimum length of 50 days.
This will filter out the ETFs.
The stock should be trading maximum 3% below the resistance line.
The resistance line should have a minimum strength of 4. This means that the line was tested at least 4 times in the past.
The minimum average daily volume should be at least 500K.
The support and resistance lines are shown on the charts.
Run this screen in your favorite region. You can always further fine tune the screen by changing the general settings after it opened in the screener.