This screen finds stocks that have a long upper weekly chartmill channel. The stock is currently trading near the upper channel line. The channel line acts as resistance, when the stocks breaks this resistance a possible strong move may follow.
Learn when to enter a breakout trade in 4 different ways, each with its own advantages and disadvantages. Whether you're buying before, during, or after the breakout or waiting for a retest, identifying key levels and monitoring momentum are essential.
Explore the fundamentals of breakout trading in this informative article. Understand what breakout trading is, how to spot potential breakouts, and the key factors that make this strategy popular among traders.
A Chartmill Channel is a horizontal channel wherein prices move sideways
Discover how to screen for breakout stocks or stock that are on the verge of doing so. Take advantage of specific price and volume filters and very sophisticated fully automated support and resistance recognition by ChartMill.
Weinstein stage analysis in the ChartMill charts and screener
Finding narrow trading ranges with ChartMill Channels
An in depth reading on ChartMill Channels
The Stock Screener supports different support and resistance trading strategies. Some examples are listed in this article.
Mansfield Relative Strength as used by Stan Weinstein
This filter finds stocks trading near the weekly upper chartmill channel. The upper channel line has a minimum length of 20 weeks.
This filter excludes stocks with an average daily volume below 300K.
Weekly charts with the chartmill channels are shown.
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.