Stocks to Watch
6/7/2023
This is a list of stocks to watch for swing trading and day trading. If you are a stock market beginner and want to learn how to swing trade stocks,
read Swing Trading Strategy
and Find Trending Stocks.
To find profitable trade setups, don't forget to check out the Top Stocks List.
Stocks To Watch Tomorrow
This list of stocks to watch tomorrow is compiled using technical trade setups and our stock scanning system. The list is not meant to be use for long term investors, short term traders
may find this list useful.
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What stocks to watch
To determine what stocks to watch today depends on your trading strategy. Stocks to watch for trend traders would be different than the ones who are looking for bargains.
Our stock screener offers various technical indicators to help traders find stocks to watch based on the indicators they use.
Trending Following Stocks
For trend traders, the following screeners are able to find stocks that are trending up.
Momentum Stocks Today - find stocks that are gaining momentum today.
Top Trending Stocks - list of stocks that are trending upward.
Stocks that are making 52 week highs - strong stocks that are making 52 week highs.
Biggest Stock Gainers - biggest gainers of the day.
Gap Up Stocks Screener - stocks that gapped up today.
Overbought Stocks Screener - stocks that are overbought based on the RSI indicator. However, many strong stocks stay in the overbought area for a long time.
Custom Stock Screener - find strong stocks based on the technical indicators that you use.
Try Smart Scan for profitable trade setups
Let's go over a trend following strategy that we use to swing trade stocks.
To use the trend following strategy, any stock that is on our watchlist must have an established trend. We will be using the weekly stock chart to determine if a stock is in an uptrend, and then use daily stock chart to find entry points.
The stock ZM shows up many times in various of our scans in the recent past. It's stock price tripled during the four month period since February.
Weekly Chart of ZM - the weekly chart is showing strength for the stock, and the trend is up, so the stock qualifies for our screening criteria and therefore we add it to our stock to watch list.
Daily Chart of ZM - The daily chart shows the stock is now trading at the higher high right now, which is not the optimal price to establish a long position.
The stock triggers a buy entry signal in the beginning and ending of May when its price is trading at the trend line and the MACD indicator made a bullish crossover signal. These are bullish signals for a trend following trader.
For now, a better trade would be to wait for the stock to drop to the trend line or approaching $170, or for the stock to breakout and establish a new trend line.
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Bargain Stocks
To find bargain stocks, you can use the following stock screeners
Bargain Stocks - find bargain stocks with the oversold stock screener.
Gap Down Stocks - list of stocks that gap down today.
Stocks Hitting Support - find stocks that are trading at support.
Stocks That Made 52 Weeks Low - list of stocks that are trading at their 52 week lows.
To trade bargain stocks, we must be only buy stocks that are showing signs of recovery based on our technical indicators. We will be using the RSI and MACD to find buy entry on daily stock charts.
Back in late March, the RSI indicator for the MGM stock is below 30 which is considered oversold in technical analysis.
On 3/24/20, the RSI indicator crossover above 30 which shows it's first sign of recovery.
Then on 3/26, the MACD indicator made a crossover which is another bullish signal. The stock was bouncing back and supported by above average volume.
Conservative traders may wait for the MACD indicator to crossover to buy the stock, while others may considered buying it when the RSI crosses above 30.
Final Words
Since this is a stocks to watch list for traders, it is mainly based on technical analysis and the trend momentum of a stock. It does not take into account fundamental data of companies in the screening, so long term investors may need to find fundamental information elsewhere.
Please note this list of stocks to watch tomorrow list is for information and research purpose only. It is not a stocks to buy list, traders can use this list to get trading ideas, and not blindly buy the stocks on the list.
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