TC2000 Gap Up Weak Close

Description

The TC2000 bear trend gap up weak close is a great way to take advantage of a near-term pop in a stock that has been trading in a longer-term downtrend.

How this screener works

This scan looks for stocks that have been trending lower in a long-term downtrend but then saw a sudden gap up above the previous day’s highs followed by an intraday reversal lower and weak finish on the day.

The scan will return small gap-ups starting at just 1% above the previous day’s highs as well as large gap-ups that could be caused by earnings or some other market catalyst.

What’s important however is that the stock’s intraday strength reversed, signaling the move to the upside may have been initially overstated. This setup lends itself well to a gap-fill target (if it did not fill on day 1) and well-defined placement for stop losses (the bar highs).

This scan is designed for daily time-frames.

Requirements

• An active TC2000 Premium or Premium+ subscription is required to use this scan
• You must be running Version 23 or higher of TC2000 to use this scan

Scan features

• You can easily customize this scan’s settings so you can more accurately target stocks based on your personal preferences
• Includes easy-to-follow video setup instructions that will have you scanning in no time
  • Don’t want to install or set anything up yourself? Upgrade to our full-service white glove installation.
• Built to scan across any timeframe you want
• Can be combined with additional scan criteria to improve precision

Add to cart

Please note: all sales are final. This is an instant digital download and you will receive the source code immediately upon purchase. We encourage you to contact us prior to check out if you have any questions about this scan or if you would like to see the latest stock results. Thank you for your understanding!

Bundle offer

Get a discount when you purchase this Gap Up Weak Close Scan and its bull version equivalent in the Bull Bear Gap Bundle package.