Tackle Today: Scanning for stocks
October 21, 2020
≈ Learn how to find great setups ≈
Traders,
Daily, most trader’s scan their watch lists for opportunities. If there are not enough good setups on their watch lists, they will then go to scanning the broad market. Scanning is an activity that should be done regularly, at least once a week. How each trader approaches scanning will depend on what tools they have access to and know how to use. A popular tool is found in the Finviz screener, and it is the one that Coach Frank uses to run his scans as he is looking for interesting charts for our weekly scouting reports.
When you scan for stocks, there are simple filters you can use to narrow your scope and be efficient with your time. Things like minimum average daily volume, stock price, sector and performance can be set to your specific parameters. If you have never run a scan before, it will be an educational experience to try. And, if you are a veteran at scanning, you can probably get some tips and tricks to help you improve efficiency.
Today’s daily video is a tutorial from Coach Frank, the breakout specialist, where he teaches us how he likes to use the FinViz screener. Watch the replay below and then try to run some scans for yourself.
#TeamTackle
Chart of the Day
NIKE, Inc. (Ticker: NKE)
Nike has been in a long term uptrend, after beating earnings last month, the stock has consolidated for some time and is now threatening a breakout. It was a candidate on this week’s Options Report. Review the full report here: https://tackletrading.com/options-report-october-17th-2020/
Video of the day
Scanning for Stocks
Coach ‘Breakout’ Frank teaches the team how he scans for stocks in this tutorial.
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