Tiger Shark Trading, Daily Commentary from Professional Traders - http://www.tigersharktrading.com
RSI2 Pullbacks for January 24
http://www.tigersharktrading.com/articles/46348/1/RSI2-Pullbacks-for-January-24/Page1.html
By Mean Reversion Trader
Published on 01/23/2024
 

Find out which overbought and oversold stocks are poised for pullbacks to their mean.


RSI2 Pullbacks for January 24

Entry on a break of the previous trading day's high. Stop below the deepest pullback low. Fund managers like to trap pullback traders by triggering a pullback entry, so ignoring a first thrust can often lessen risk.

Long-side setups

GTES Gates Ind Corp PLC
HOLI Hollysys Automation Tech
IMVT Immunovant Inc

Entry on a break of the previous trading day's low. Stop above the deepest pullback high. Fund managers like to trap pullback traders by triggering a pullback entry, so ignoring a first thrust can often lessen risk.

Short-side setups

BOX Box, Inc
G GENPACT LIMITED
HOLX Hologic Inc
TKO TKO Group Holdings Inc

Dave Mecklenburg is the Publisher of TigerSharkTrading.com.