It was another day most traders thought was slow yesterday…
Traders’ eyes were mostly on Avinger, Inc. (NASDAQ: AVGR) for a second-day squeeze after that wild after-hours action on Monday.
And I have to say, my plan for it did play out pretty well…
But there was more out there to watch and trade than one stock. You just have to know how to find them…
I’ll show you how to find big percent gainers like the 240%+ gainer I’m talking about today…
How to Find Spiking Stocks and Join The Momentum
You can use a stock scan to find the biggest gainers in the market.
Two of my favorite scans are the breakout scan and the afternoon VWAP hold scan to find potential day trades.
But there’s one tool I use more than any scans to find stocks with the potential to explode…
Oracle is our stock-picking algorithm that scours the market every single morning and compiles a list of the 15 most active, potentially volatile stocks.
And it delivers this watchlist right to your StocksToTrade platform. (It’s only available to our exclusive subscribers — you can find out how to get access here.)
Every morning I fire up Oracle in pre-market when it starts building the watchlist…
And yesterday it had Connexa Sports Technologies Inc. (NASDAQ: CNXA) on its list.
In my morning webinar, I said CNXA is a watch for a dip and rip. Oracle had a nice dip and rip level at 15 cents and true penny stocks have been hot…
That’s what makes Oracle different from any other scan or screener — not only does it give you a list of stocks to watch, but it also gives you potential entries for your trades.
From there you can use Oracle’s support and resistance levels to plan where you’ll take profits…
CNXA chart: 1-day, 5-minute candle — courtesy of StocksToTrade.com
After CNXA broke through the 15-cent Oracle signal, it climbed to the next resistance level of around 18 cents. From there it continued to the next resistance level at 25 cents.
You can choose whether to take off part of your position at each resistance level or if you want to hold and see how the stock reacts to any resistance…
Either way, having Oracle spot trade ideas and potential entries for you — plus having it give you the support and resistance lines to plan trades — saves you a ton of time.
That’s why I love it.
If a trader with 15+ years of experience finds this tool incredibly useful — think of what it can do for new traders…
You don’t even have to wonder.
You can find out what it can do for you in one of our live training workshops.
They’re completely free to attend and will give you insights into some of the hottest stocks and patterns working in the market.
Plus, we’ll show you how technology and using an algorithm can help you keep up with the Wall Street pros.
Check out the schedule of training workshops here and sign up today!
Have a great day everyone. See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade