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.
The Stock Screener supports different support and resistance trading strategies. Some examples are listed in this article.
Weinstein stage analysis in the ChartMill charts and screener
Breakout trading is a strategy by which a position is taken as soon as a certain price level is broken.
A Chartmill Channel is a horizontal channel wherein prices move sideways
Mansfield Relative Strength as used by Stan Weinstein
An in depth reading on ChartMill Channels
Finding narrow trading ranges with ChartMill Channels
This filter excludes stocks with an average daily volume below 300K.
This filter finds stocks trading near the weekly upper chartmill channel. The upper channel line has a minimum length of 20 weeks.