Lot of interesting gapping stocks today, here’s just five of them, though I didn’t paper trade any of these. Instead of making a watchlist each night of trade prospects, I’m going to try to post some charts to try to learn some of the patters of stocks that gap.
My new focused strategy for day trading is written about in this post. On the charts below, the red lines mark the 15 minute opening range, high (ORH) and low (ORL). The blue lines are to demarcate important whole $ price thresholds.
YHOO – ORH Breakout
Yahoo had a very tall bullish green candle at 9:50ish busting over $14 and beyond the morning top wicks. I wasn’t paying attention and didn’t see it until like $14.30ish. I put another red line at $14.50 as this looked like it would act as resistance today. When it held over $14 after the morning pullback for today’s high, that maybe have been a nice place to enter after missing the initial breakout.
AKS – ORL Bounce / ORH Breakout
Profit taking right away on gap up, flirted with tangage under ORL, but then bouced heavily busting through $10. I really noticed it when it was consolidating at $10.20 at ORH, my thought at the time was leaning toward a breakout but I stopped trading before it made the move.
TTWO – ORH Breakout (and Threshold Bounce)
Gapped up and retreated from ORH to $9 price threshold – then bouncing up to $9.50. Pulled back to $9.30 again to test prior resistance as support. Hard to catch this move as most of it was in a half hour window between 9:45a and 10:15a.
TCK – ORH Breakout (and Threshold Bounce)
Like TTWO, pulled back to $8.50, which was actually essentially ORL if you don’t count the bottom wick (which tends to be something that price often ignores – lonely wicks). It bounced strongly here and then retraced to ORH again (acting as support) for a strong move up to past $9.
SUSQ – ORL Bounce (x2) and ORH Breakthrough (slight)
Gapped down, bounced off ORL above $9 strongly, but ORH acted as resistance initially. On the second ride down, it could of broke to new lows or bounce again – which it did, trampoline off ORL. At ORH, the best guess would of been that it would slow here, but it broke through a bit to close at new HODs.
