Reversing off the bottom, page-295

Some traders also use a 2 or 3 multiple ATR line for entries. For BPT, the most recent 3ATR price crossover occurred at $1.47 on Jan 9th. Since reaching a high of $2.26 last year on Sept 28, Jan 9, 2019 is the first time that the 3ATR line has been broken to the upside. Keep in mind that this is a very aggressive swing trading entry. At the opposite end of the trader spectrum, some conservative traders won't buy until BPT prints a new 6-month or 12-month high, e.g. trading above circa $2.26. 

Personally, I don't like buying anything when it is trading below the 150-day EMA. There is considerable risk of buying into a counter-trend zone within the context of a stage 4 downtrend. This is where shorters like to target. One example is short-term strength zones when KDR was in stage 4 from $2.48 high, dead cat bounce up to $1.60, before being smashed down to a $0.965 low.

Ideally I like to scan for stocks trading sideways or slightly up with price above 10/26-week EMA. Like KDR started to do back in June, 2017. Very similar for BPT starting back in Sept, 2017.

Do you trade (or paper trade) the XAO? I use a 1-hour chart with 9 and 21 period lines to track the trend. It is currently up with XAO > 9 > 21. It helps to know if the broader trend is up before loading up with too many stocks.