Wednesday, June 18, 2014

Pattern Screen: #JBFC

In May I had introduced pattern #JBFC as a ChartDNA pattern which offered a positive 5-day outlook and good trade prospects for stocks in the S&P 500. Stocks exhibiting pattern #JBFC have a 59-71% chance of a higher close (dependent on match strength) five days after the pattern completes, relative to the next open price: i.e. upcoming Wednesday's open:


The Weak match of #JBFC probably offers the best trade performance: There is a 38% probability for 15% gain when using a 5% stop (the 15% target and 5% stop can be changed in ChartDNA), with an average return per trade of 3.29%.

S&P stocks exhibiting #JBFC at a weak match strength can be found by switching from the Analysis tab to Signal tab. Remember to have your match strength set to 'Weak', and a selected watchlist containing S&P 500 component stocks.  You may need to create the watchlist first before running the signal analysis.


 Symbols: EW, GNW, MCK, MAS, CAH, AVP, BBY, BWA, CNX. EMN, GLW, WYNN, and K


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