This is a short post, that outlines a few things we do very morning and every evening. This process follows the methodology presented in “Workflow – Putting it All Together” from our popular “Strategy Video Series.”
We check various sites for statistics, though I like the Wall Street Journal Markets page for its concise layout. On the bottom right of the page is a section I check every day for Gainers and Decliners, as well as most Active stocks.
Scanning through the “Stocks on the Move” section, my eye stops on TDW. Checking recent news I see TDW beat earnings recently by 10%. Investors Business Daily offers a similar feature, though I like this everything on one page approach that WSJ uses.
Though this candidate is inexpensive, I still look at it the same way I would if the stock traded at $30.00. Price action has broken a down trend, RSI is rising along with stochastic. MACD is trending above zero.
Price action is above the 9/20ema and both moving averages have crossed into a bullish scenario. Note the Kirby just above yesterday’s close; this one could pop.
While I am not suggesting that you buy Tidewater, it is a stock in a hot sector at the moment, which will likely follow the pack.
Follow this process on any stock that captures your attention. Before long, you’ll notice an improvement in your stock selection and performance as a trader.
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