Good question @
@Lambrae - there are a lot of things to watch for imo - there are certainly a lot of telltale things that all go in the mix for consideration -
I always mark out LT support and resistance zones - you have to be able to do this fast when a stock is running to get your targets and pullbacks in mind -
IMC was a recent example - it gapped up over the previous resistance on a big news announcement once it passed that 74 resistance it bolted right up to the target old resistance zone as there was not supply present on the day - and that is also one of the keys - IF it happens out of the blue your almost guarenteed of no old supply coming in till the next day - when the rest of the daily traders see what has happened -
these opps don't come up all that often but you gotta be able to see the potential -
Tell tale sign was that it had already broken out from a long base and deep lower low if that makes sense -
Things that break out and have nice low volume pullbacks to support are ones to watch and track also after initial breakouts - hope that helps -
Also - I do think it is pointless to argue over what is and isn't a daytrade - they don't knock on your door and explain in detail - but certainly looking through scans of stocks that are breaking out on volume and also price and volume scans often are ones that are making the right noises -
@Patterns favours the 10% gainers which is also a good angle as these ones are not pumps on the day that have failed for whatever reason -
It is complicated -
