This watchlist was updated on April 24. Stocks that no longer meet the strategy criteria are crossed out, and new comments are added in red (no stocks were added to deleted from the list).
I’m willing to take long trades in the stocks discussed below if they form valid trade setups and trigger. The overall stock market conditions are not great, but there are lots of quality patterns forming and recent trades are working. See the full Stock Market Health Update here.
I’m primarily focused on contraction patterns. This is what I’m scanning for and what the watchlist below is based on. Many of these will also look like cup and handle patterns.
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.
168 Stocks met the scan criteria. Manually narrowed to those below.
CPG – Needs to move up and consolidated. Moves up are getting smaller and smaller which isn’t ideal.
MTDR – same as above. And if it drops much more it won’t be a contraction anymore.
IMKTA – Did breakout. Has pulled back to entry. Can look for other type of entry.
CVX – needs to reset by moving back up and consolidating, without dropping much more.
SM – same as above, and this stock has been very sideways with little in the way of upside runs since November. Not ideal, not a lot of momentum.
SGRY – cup and handle
From Last Week:
SU – needs to move up and consolidate. More of a drift up.
ERF – needs to move back up and consolidate. Or move up very quickly through the prior consolidation.
VET – needs to move back up and consolidate. Or must move very quickly up through the prior consolidation. If it drops further, then its expanding its range, not contracting.
GFI – angled down, Needs to move up and consolidate. NGD HMY – angled down. Needs to move up and consolidate. MRC – already broke out. More of a range-like pattern. Can look for other type of entry. TECK – Expanding price area currently.
KBR – Needs to move up and consolidate.
GDEN – needs to move back up and consolidate. Expanding price range now, and was sideways for many months to begin with.
PNNT – not a big runner. Needs to move back up and consolidate. Sideways for a long time (not ideal).
Trend Channel Stocks
NVST – dropped below prior swing low.
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Canadian Swing Trading Stock Watchlist
84 stocks on the list. Narrowed to those below.
JOSE.TO – expanding range now. Needs to tighten up again. Will probably take a while. Breakout failed.
MDI.TO – didn’t set up. Expanding, not contracting, now.
NPK.TO – this one held up well. But I can’t quite decide on it. More like small rising channel than a contraction. Had high volume on the recent consolidation. Watching and waiting to see what happens in this one.
CPG.TO – Needs to move up and consolidated. Moves up are getting smaller and smaller which isn’t ideal.
MEG.TO -had held up well but needs to reset.
ISO.V – half cup. Needs to reset (move and consolidate)
From Last Week:
SU.TO – needs to move up and consolidate. More of a drift up.
FRU.TO – had a nice breakout and now right back at entry area. Needs to reset for another entry (move up and consolidate) without moving much lower.
ERF.TO – needs to move back up and consolidate. Or move up very quickly through the prior consolidation.
ATH.TO – had a nice run-up. No entry.
CJ.TO – has to move up and consolidate or move up quickly through the prior consolidation.
ALS.TO – needs to consolidate
VET.TO – needs to move back up and consolidate. Or must move very quickly up through the prior consolidation.
TECK.B.TO. Expanding price area currently. IPO.TO – Already broke out, but consolidating again. Went nowhere. Becoming more of a drifter. CS.TO – needs to move up and consolidate
AMC.V – needs to move up and consolidate or must move very quickly up through the prior consolidation.
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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.