Any tips as to how to determine, when a stock has had a good run and is ending the day at highs, whether to hold in the expectation that it will gap up the next morning or sell before profit taking the next day? Also, when you have determined that it's a gapper, do you put in a market sell order for next morning or hold in the hopes of watching it continue to run?
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How do you determine a 'gapper' versus a 'likely-to-sell-off-next-morning'
(3 posts) (3 voices)-
Posted 10 months ago #
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Sloth,
I look for a number of items on my checklist before I determine that a stock stands the greatest chance to gap:
1.) Has there been strong volume and interest in the stock all day, especially in the final hour of trading?
2.) Is the stock appearing to close strong, in the top 5% of it's trading range today?
3.) Is chat regarding this stock kicking butt everywhere (as compared to all other stocks) within the final 30 minutes of trading?
4.) If the stock is a promo, on the up side is it a promo through multiple sources, and a known well paid promo, or on the down side does it appear to be a one day push, or a promo from a source known to push stocks that flop come the opening bell of the next day?
5.) Does the stock chart support a continuation of the up move (for example, is it closer to strong support than strong resistance), or on the down side is the high of the day near or at a strong line of resistance, and especially has it hit resistance and failed to break through?
If all five items are positive, odds that it will gap are very strong in most cases, imo. Hope that helps.
Posted 8 months ago # -
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