This screens searches for Pocket Pivots in Strong stocks that happen near the SMA(10). A pocket pivot is a positive sign of price/volume behavior. Whether the stock is a buy or not remains to be judged on a case by case basis.
A Pocket Pivot is a price/volume pattern that reveals an interest of large players and is available in our charts and stock screener.
Strong stocks are consistent strong performers in the market
Relative Strength measures price performance of a stock relative to the other stocks in the market.
In this video I discuss the concept of pocket pivots in trading as they are described in the book 'Trade Like an O'Neil disciple' by Gil Morales and Chris Kacher.
This filters for strong stocks. Strong stocks are high relative strength stocks that show a stable uptrend.
This filters for stocks trading on the US exchanges.
This filters for pocket pivots today
This filters for stocks where the open was near the SMA(10). This ensures that the stock is still in a buy-able position when the pocket pivot occurs.
This filters for stocks with a minimum average daily volume of 300K to ensure liquidity.
The 10 and 20 SMA are shown on the chart. The pocket pivot indicator highlights the current and previous pocket pivots.