Stock market health is neutral right now. It is not bad, but it is not great either. I’m willing to take long trades in the stocks discussed below if they form valid trade setups and trigger, but I’m not being aggressive. Unless it is a great pattern, I’m ok to save my cash for now.
I’m primarily focused on contraction patterns. This is what I’m scanning for and what the watchlist below is based on. Due to the recent pullback in the stock indices, there may also be some trend channel trades out there. I ran a scan and found one.
You can read the full market health report here, which discusses why I’m willing to buy.
US Swing Trading Stock Watchlist
These are stocks I’m watching because they have the potential to trigger trades based on the contraction/triangle pattern strategy.
This strategy and others are covered more in-depth in the Complete Method Stock Swing Trading Course, including how to scan and find trades.
172 Stocks met the scan criteria. Manually narrowed to those below.
Contractions from Last Week:
EVA – not a big runner
RES – needs to consolidate. Choppy.
XENE – consolidating just above contraction
GFI – angled down, Needs to move up and consolidate.
BTU – pretty small second drop
HMY – angled down. Needs to move up and consolidate.
MRC – needs to move up and consolidate. More like a range than a contraction.
TECK – needs to move up and consolidate
AGRO – need to consolidate
CLR – angled up
GDEN – needs to move back up and consolidate
SBLK – needs to move back up and consolidate
PNNT – not a big runner
TREND CHANNEL STOCKS
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Canadian Swing Trading Stock Watchlist
84 stocks on the list. Narrowed to those below.
CJ.TO – move up and consolidate
From Last Week
ALS.TO – needs to consolidate
IPO.TO – broke out last week
CS.TO – needs to move up and consolidate
AMC.V – has to move up.
To learn more about scanning to find explosive trades, as well as everything else you need to know about swing trading, check out my Complete Method Stock Swing Trading Course.
By Cory Mitchell, CMT
Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.