February 21 Top Intraday Trend Day Trading Stock Scan
What did our intraday scan reveal as the top “Trenders” so far mid-day February 21st? And will these stocks continue to develop a Trend Day structure into the close?
Let’s take a look at our “Top Uptrenders” of the Day so far:
Cummins (CMI) returns to the “Top Trender” list – it first appeared on the February 13th list.
Cummins is joined by Cintas (CTAS), Monsanto (MON), and Biogen (BIIB) for the top trenders and potential “retracement/trend continuity” candidates.
Not to be left out, aggressive traders can use these names to play a possible breakdown or intraday trend reversal should that develop.
Top Intraday Downtrenders for Friday February 21st:
The four “Top Downtrending” or “Sell-Off” Stocks include Costco (COST), Cabot Oil and Gas (COG), National Oilwell Varco (NOV), and Micron Tech (MU).
Notice the multi-bar sell-off I captured on the chart in Micron (MU) as I was publishing the scan.
Not all stocks on this type of scan list will continue for a pure Trend Day, but those that do can provide quick profits for those using pro-trend strategies such as trading breakouts and retracements on a classic Trend Day.
As I always mention, be sure to monitor price relative to the 5-min 20 EMA (green) and of course the orientation of the 20 and 50 EMA (spacing between them).
Speaking of Moving Averages, Club EWI is offering a free 10-page lesson on Trading with Moving Averages (I’m an affiliate).
As always, see prior scan posts to see the outcome (and for additional information):
And the original February 10 Intraday Trenders
Also, the compilation post “21 Examples of Trend Days”
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey’s new book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).
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