We’ll consider trades on some of the candidates today only if relative volume (RVOL) is elevated above 2.0. As a sidenote, we also wait until the opening range (9:30 AM ~ 10:00 AM) completes so that VWAP has time to mature and for price action to be above a bullish sloping line.
Consistently exercising this workflow helps us identify when institutions are interested.
Hubspot – HUBS
IBD 50 member Hubspot (HUBS) is an example of the “Near Pivot” scan results, as the stock completes a second-stage cup with handle base with a 547.57 (+/-) buy point. RS line is rising at 95. This potential winner is within 2% of its break out pivot zone (blue shading) accompanied by elevated volume. In addition, 3.5% of the float is short. Sales growth continues, with the company scheduled to report earnings on May 5 after the closing bell.
Hubspot (HUBS) is trading (+3.84) in extended hours.
Disclosure: As an #ibdpartner, that means my use of investors business daily suite of services is complimentary. I also receive compensation from the company for my technical analysis services.