GMRE Breakout on small volume - Drops on huge Volume - Entry on top of Spinner

GMRE Global Mediacal Reit Inc - CBOE BZX
https://www.tradingview.com/x/zsdEvsMJ/

1. Breakouts (B/O) are made with Low Volume.
2. Every drop is associated with Huge Volume.
3. Drop will look for support before crossing above 20EMA
4. Spinner or Doji is formed once price crossed above 20EMA
5. Top of Spinners or Doji above 20EMA marks as entry and support.

If we base our analysis on the listed 5 items we can easily say that the possible target price would be around 13.37 and price would rally upward to close the gap just to reach $14.00. Since $14.00 is a whole number resistance, we can probably see a pullback towards $13.00.

https://www.tradingview.com/x/VTKFNt1P/
https://www.tradingview.com/x/kg9Kh6LZ/
As per channel analysis we could also have a pullback towards $12.25. This is probably where price and 200EMA would meet.

New 78 Day High Offset

This is the bare New 78 Day High with other filtration removed. If you want to incorporate this in your own stockfetcher filter, you can copy the script below.

/*Start of SCRIPT*/
symlistsymlist()
Show stocks where close reached New 78 Day High
and volume is more than 200% above average volume(30) 1 day ago
And Price between .1 and 30
And Market is not OTCBB
and add column RMI(10,1)
and add column RSI(^SPX,90)
and add column ADX(14)
and add column Average True Range(14)
and add column Open
and add column High
and add column Low
and add column Close
and do not draw EMA(18)
and draw EMA(30)
and draw EMA(10)
and do not draw EMA(20)
and draw EMA(50)
and do not draw MA(50)
and do not draw MA(100)
and do not draw EMA(100)
and do not draw MA(200)
and draw EMA(200)
and do not draw Close of New 78 day High
/*and ADX(14) > 30                                L.Williams like 30 with Price touching MA(20)*/
/*A couple of bells and whistles for back testing*/
set{entry, close}
set{target, entry * 1.10}
set{ stop, entry * 0.95}
draw price line at entry
draw price line at target
draw price line at stop
/*End of SCRIPT*/

Shorting Opportunity on N78 + Darvas on confirmed Double top

I was just looking for a possible play today with stockfetcher using my filter "New 78 - Darvas Day High"

Sometimes, it takes a while for a certain stock to be able to propel again after hitting a double top, although it had been confirmed on a previous move to have a solid N78 with Darvas box strength rise. When this occasion arises you have a short period of shorting opportunity. This is the case of the following:

VNRX - Volition RX Ltd.

http://charts.stockfetcher.com/sfchart/AlW62hWlzj.png
In a 2 years span the stock seemed to have a pretty good move upward. In fact it is actually respecting the 200EMA (200 days exponential moving average) starting from January of 2019, using it as its support all the way up. And as you can see too the stock price kept bouncing on a high (red line upward) and low channel (blue line upward) going upward.

http://charts.stockfetcher.com/sfchart/w0CqfSnJ8f.png
Sep. 24, 2019 it hits New 78 Day
Sep. 25, 2019 it hits New 78 Day High + Darvas
Sep. 26, 2019 to Oct. 3, 2019 in 6 days the entire gain of Sep. 25, 2019
                       was wiped out with low volume.

http://charts.stockfetcher.com/sfchart/o9BnPOwaj8.png
Sep. 25-27, 2019 Marked the shooting star formation
Oct. 21, 2019 18 days after the Darvas formation it tried to breakout of 6.20 but couldn't
                       It got hammered on Oct. 22, 2019 and closing around $5.65 below the close of $5.77
Oct. 28, 2019 Double top is confirmed. It just couldn't get through the $6.00 mark.

http://charts.stockfetcher.com/sfchart/bG7rZkz9Qy.png
The top of Sep. 25, 2019 and the tops of Oct. 21 and Oct. 28, 2019 created a major resistance (see light red rectangle) . This somewhat like a $0.50 cents resistance bold line (Between $6.50 and $6.00). This kind of confirmation would tell you that it will take a while before the stock can propel back to break out this resistance. It has to swing low first and create a momentum.

The close of Oct. 28, 2019 is a trigger point for shorting. If you position a short on this level you can be rewarded slowly but surely.


If we short on such level, where could be our cover position? Now we have to retrace our volumes.
http://charts.stockfetcher.com/sfchart/SupDyNd9x4.png
The major highest volume was on Sep. 24, 2019 when it made a New 78 Day High (see volume with yellow circle dated 2019/09/24). Before this volume the highest prior volume next to it looking through the left side by projecting a horizontal line against the body of this breakout volume would be the prior volume in Sep. 17, 2019 (See volume circled with yellow and dated 2019/09/17). If you trace the candle of that prior volume, the low of the candle was around $3.90. Your cover would be around $3.95 then, 5 cents higher than this low. This is also your reversal positioning for a buy order.

http://charts.stockfetcher.com/sfchart/8iJG3xkUrw.png
The cover of the short position is hit on Dec. 5, 2019 which is triggered the buy position. At this scenario the price drop is being supported now by the 200EMA.

http://charts.stockfetcher.com/sfchart/X7lJryJga8.png
Looking at the 2year chart the higher lows of the candles from Dec. 5 - 19 of 2019 where all ascending following the 200EMA. Also the candle on Dec. 5, 2019 had a longer tail which means that there is now a bit of a stronger push upward. The ascending higher low prices are now well aligned on the ascending lower blue channel, which gives you confirmation of possible reversal from its pullback.

New 78 - Darvas Day High (filter for stockfetcher)

This is the filter that use combining the strength of New 78 Day High and Darvas Box. I named the filter "New 78 - Darvas Day High" and the script below is what extract the type of stock I am looking for.

If you want copy this script and build it into your stockfetcher filter, just copy the following:

/*START OF SCRIPT*/
/*New 78 Day High with Darvas Box*/
symlistsymlist()
Set{hi52w, high 52 week high}
Set{lo52w, low 52 week low}
Set{hi/lo-Ratio, hi52w / lo52w}
SET{X, ATR(20) / CLOSE}
SET{ATR%,X * 100}

Show stocks where close reached New 78 Day High
and price is near the 7 year high
and volume is more than 400% above average volume(365) 1 day ago
and AvgVol(20) is above 250000 /*Tweaked the AvgVol from 100K to 250K to match Trading Ninja*/
and volume is above 50000
AND hi/lo-Ratio IS GREATER THAN 1.85
And Price between .1 and 30

and comparative relative strength(^SPX,90) is above .99
and do not draw comparative relative strength(^SPX,90)
and compare with ^SPX
and chart-length is 2 years


And Market is not OTCBB
and add column RMI(10,1)
and add column RSI(^SPX,90)
and add column ADX(14,30)
and add column Average True Range(14)
and add column Open
and add column High
and add column Low
and add column Close
and add column AvgVol(20)
and add column high 7 year high
and add column ma(30)
and add column ATR(20)
and add column ATR%
and add column hi/lo-Ratio
and add column industry description
AND DRAW DARVAS BOX

and do not draw EMA(18)
and draw EMA(20)
and draw EMA(10)
and do not draw EMA(30)
and draw EMA(50)
and do not draw MA(50)
and do not draw MA(100)
and do not draw EMA(100)
and do not draw MA(200)
and draw EMA(200)
and do not draw Close of New 78 day High
and draw ADX(14,30)
/*and ADX(14) > 30                                L.Williams like 30 with Price touching MA(20)*/
/*A couple of bells and whistles for back testing*/
set{entry, close}
set{target, entry * 1.10}
set{ stop, entry * 0.95}
draw price line at entry
draw price line at target
draw price line at stop
/*END OF SCRIPT*/