Tiger Shark Trading, Daily Commentary from Professional Traders - http://www.tigersharktrading.com
RSI2 Pullbacks for January 25
http://www.tigersharktrading.com/articles/46353/1/RSI2-Pullbacks-for-January-25/Page1.html
By Mean Reversion Trader
Published on 01/24/2024
 

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


RSI2 Pullbacks for January 25

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

AMT American Tower Corp
BBWI Bath & Body Works Inc
GTES Gates Ind Corp PLC
IMVT Immunovant Inc
RBA Ritchie Bros Auctioneers
SUN Sunoco LP
USFD US Foods Hldg Corp

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

HP Helmerich & Payne
XPRO Expro Group Holdings NV

Dave Mecklenburg is the Publisher of TigerSharkTrading.com.