TTG Proprietary Stock Screen with Charts 1/10/23
Out of the Box MarketWebs Screen
Here is today’s TTG Proprietary Stock Screen using Volume At Price
First of all, what is the screen and how can it be used?
The screen is using an Indicator called the TTG MarketWebs that uses Volume At Price to determine significant breakouts and breakdowns.
What it does:
Identifies breakouts on multiple timeframes using Volume At Price
Spot Relative Strength in sectors / groups
Spot Relative Strength in companies
Removes extended names (trading way above a Value Area)
How can it be used :
To help formulate a disciplined trading approach (outside of the scope of these posts but taught at TTG)
Identifying where significant support & resistance lies for trade setups, targets, and exits
Quick Takeaway from today’s screen:
More Companies continue to show up on screen and in various sectors…Consumer Discretionary, Industrials, and Energy sectors are showing Relative Strength in this screen.
I will show 3-5 chart setups here based on my own preferences but all the companies in the above list meet the same technical criteria.
CAT Daily chart
Caterpillar Inc. designs, manufactures, and markets construction, mining, and forestry machinery. The Company also manufactures engines and other related parts for its equipment, and offers financing and insurance. Caterpillar distributes its products through a worldwide organization of dealers.
-continues to trend + and is breaking out, notice how its holding its 5d EMA (Exponential Moving Average) Watch for dips to get bought like yesterday’s
- stop $238
DE Daily chart
Deere & Company manufactures and distributes a range of agricultural, construction, forestry, and commercial and consumer equipment. The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services. Deere and Company extends its services and products worldwide.
-ok, I am cheating here because DE is not outside of its Jan Value Area but i think one to watch in coming days to see if it can break > $441
-I also like how its earnings gap has been filled.
- stop $430
3. MPC Daily chart
Marathon Petroleum Corporation is a downstream energy company. The Company refines, supplies, markets, and transports petroleum products. Marathon Petroleum serves customers in the United States.
-back above all the MAs including its 50d MA and have a top of Jan Value Area to trade against
-PT $124
- stop $114
4. X Daily chart
United States Steel Corporation operates as an integrated steel producer. The Company manufactures flat-rolled and tubular products with production operations in North America and Europe. United States Steel serves the automotive, appliance, container, industrial machinery, construction, and oil and gas industries.
-all kinds of strength in Steel names… RIO STLD ATI CMC VALE RS(below)
-PT $32
- stop $27
5. RS Daily chart
Reliance Steel & Aluminum Co. distributes and processes steel and aluminum. The Company's products include carbon, alloy, stainless and specialty steel, aluminum, brass, and copper. Reliance operates processing and distribution centers throughout the United States.
-PT $223
- stop $208
5. KLAC Daily chart
KLA Corporation produces and distributes semiconductors. The Company offers surface profilers, nanomechanical testers, chips, and semiconductor assembly solutions. KLA markets its products in the United States.
- stop $398
Remember, this is just one type of screen / setup that I focus on in my analysis.
Want to know more about the TTG MarketWebs Indicator? Learn More Here
Copyright © Tribeca Trade Group. All of the information in this newsletter is for entertainment and educational purposes only and is not to be construed as investment or trading advice. None of the information in this newsletter is guaranteed to be accurate, complete, useful or timely. IMPORTANT NOTICES AND DISCLAIMERS TriBeCa Trade Group is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of TriBeCa Trade Group are not acting as investment advisors and might not be registered with the U.S. Securities Authority