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Trend Trading Candidates
Posted on 5/6/26 at 9:22 pm
Posted on 5/6/26 at 9:22 pm
Hello folks, been trading for a while now and thought it might be a good idea to have a thread for the short-term trend/swing traders who are watching stocks and typically open and close a position within a week or two.
My strategy has been to focus on stocks which are in long-term stage 2 (Weinstein) which are recently coming off a short-term pull back on low or declining volume.
What I typically do is to enter the stock and set a sell order immediately for half my position at my R1 (Resistance) level and then manage stops (moving up stop losses) on the remainder of the position until I get stopped out.
This week I'm looking at a few stocks like LFST, CGEN, and TARA. I'll focus on TARA for this post:
TARA - 1 year
Daily shows a successful test of recent swing low with reasonable risk/reward entry point.
TARA - 5 day shows healthy up trend with higher highs and higher lows.
50% profit taking at 6.15, then adjust stops accordingly. Would love to hear other TA's thoughts or candidates for the week, especially during earnings season.
My strategy has been to focus on stocks which are in long-term stage 2 (Weinstein) which are recently coming off a short-term pull back on low or declining volume.
What I typically do is to enter the stock and set a sell order immediately for half my position at my R1 (Resistance) level and then manage stops (moving up stop losses) on the remainder of the position until I get stopped out.
This week I'm looking at a few stocks like LFST, CGEN, and TARA. I'll focus on TARA for this post:
TARA - 1 year
Daily shows a successful test of recent swing low with reasonable risk/reward entry point.
TARA - 5 day shows healthy up trend with higher highs and higher lows.
50% profit taking at 6.15, then adjust stops accordingly. Would love to hear other TA's thoughts or candidates for the week, especially during earnings season.
This post was edited on 5/6/26 at 9:29 pm
3
Posted on 5/6/26 at 10:48 pm to DD_Rolltide
I appreciate you putting this together.
After watching Nebius for nearly 18 months I’m pretty convinced of Elliott wave theory now.
But I’m simple still. In other words, the chart on OUST is a breakout candidate as it has held the 20 day EMA several times over the last 2-3 weeks.
Additionally, the 20 now sits just above the 200 day…
A wave 5 run could see 50% or more to 45+
Earnings flush occurred yesterday, still held 20 and 200 day averages, and even finished moderately green on the day. Rev8 news is also super bullish for the coming quarters. Fantastic setup.
After watching Nebius for nearly 18 months I’m pretty convinced of Elliott wave theory now.
But I’m simple still. In other words, the chart on OUST is a breakout candidate as it has held the 20 day EMA several times over the last 2-3 weeks.
Additionally, the 20 now sits just above the 200 day…
A wave 5 run could see 50% or more to 45+
Earnings flush occurred yesterday, still held 20 and 200 day averages, and even finished moderately green on the day. Rev8 news is also super bullish for the coming quarters. Fantastic setup.
Posted on 5/6/26 at 11:00 pm to bayoubengals88
Looks like a promising setup, but risk reward is a bit much for me now, with a clear stop below 25 (that's giving well over 10% risk) and R1 being clearly around 31.75 (giving less than 10%).
Bounce today on high volume though looks great. If I were to buy it would be on a breakout of 30, but man with all the volume over the last two days, there's gonna be a big move one way or the other. I would guess the other (down).
Bounce today on high volume though looks great. If I were to buy it would be on a breakout of 30, but man with all the volume over the last two days, there's gonna be a big move one way or the other. I would guess the other (down).
Posted on 5/7/26 at 1:49 pm to DD_Rolltide
quote:
I would guess the other (down).
You are correct. -15% today
Posted on 5/7/26 at 9:41 pm to iPad
Pretty good day today, LFST popped, TARA disappointed but not stopped out...yet. CGEN moving healthily upwards, stop in place now to break-even. Took profits on LFST at 8.30 (got stopped out mid morning).
For tomorrow I'm looking at very carefully entering IOVA after a terrible day today due to missed revenue on earnings. Late in the day it tried to form a base around 3.50. Going to watch it closely for a bounce back, I'll enter it under two conditions. 1 it breaks through 3.60 on high volume. 2 it drops to 3.40 on declining volume. If my entry is 3.60 (momentum trade) I will set a very tight stop at 3.45. If it declines on declining volume and I enter at 3.40 (swing trade) I'll set a stop at 3.20. Either way I will take profits with half my position at 3.85 and let the other half run. Here's the 5-day showing the attempted base building at 3.50:
And the daily showing the pull back from recent swing high:
If the earnings disappointment was too much I'll lose ~5% either way with potential gain of 10% or more.
For tomorrow I'm looking at very carefully entering IOVA after a terrible day today due to missed revenue on earnings. Late in the day it tried to form a base around 3.50. Going to watch it closely for a bounce back, I'll enter it under two conditions. 1 it breaks through 3.60 on high volume. 2 it drops to 3.40 on declining volume. If my entry is 3.60 (momentum trade) I will set a very tight stop at 3.45. If it declines on declining volume and I enter at 3.40 (swing trade) I'll set a stop at 3.20. Either way I will take profits with half my position at 3.85 and let the other half run. Here's the 5-day showing the attempted base building at 3.50:
And the daily showing the pull back from recent swing high:
If the earnings disappointment was too much I'll lose ~5% either way with potential gain of 10% or more.
This post was edited on 5/7/26 at 11:16 pm
Posted on 5/8/26 at 4:25 am to DD_Rolltide
What are you using to identify/scan for the stock picks/candidates in stage 2?
Posted on 5/8/26 at 5:02 am to iPad
quote:I’m shocked by this, but I will begrudgingly give praise.
You are correct. -15% today
frick!!
Posted on 5/9/26 at 2:17 pm to AUtigerNOLA
quote:
What are you using to identify/scan for the stock picks/candidates in stage 2?
I wrote a python script that I run at the end of each day, it is looking at these criteria:
Price < $8/share
Price > $2/share
Average daily volume > 250,000 shares
Close > 200-day moving average
50-day moving average > 200-day moving average
Today’s volume > 1.25 × 50-day average volume
Today closes green (Close > Open)
Today’s close > yesterday’s high
Average volume on down days over last 10 days < average volume on up days over last 10 days
Close is within a small % of the 20-day high
That one many times doesn't give lots of results and it is looking for reversals, so I have a second one that gives me "Candidates" that does just this:
Price < $8/share
Price > $2/share
Average daily volume > 250,000 shares
Close > 200-day moving average
50-day moving average > 200-day moving average
Today’s volume > 1.25 × 50-day average volume
Close is within a small % of the 20-day high
That one is much wider so I'm able to quickly flip through the charts and spot the ones that stand out as "potential reversals". I pick a lof from that too. My screener also doesn't look at OTC stocks.
This post was edited on 5/9/26 at 2:30 pm
Posted on 5/9/26 at 7:13 pm to DD_Rolltide
What data source do you use? The Python script has to get the information from somewhere to flag candidates.
Posted on 5/9/26 at 11:06 pm to Bestbank Tiger
Yahoo, it’s free and I only screen on daily price. I messed around with financial modeling prep for a bit but it’s paid and very limited. When I was thinking about real time intraday data I considered it.
This post was edited on 5/9/26 at 11:10 pm
Posted on 5/12/26 at 11:02 am to DD_Rolltide
It is tempting to snag some discounts on a day like today but I can't shake the idea that this could be day 1 of a multi-day correction like we saw in April 2025
Posted on 5/12/26 at 11:27 am to DD_Rolltide
Didn't Weinstein say that his method works best on companies with real earnings and sales growth. $TARA has zero revenues no earnings.
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