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Failed Breakouts

 
Canada

From failed moves come fast moves in the opposite direction. When a breakout fails quickly, the buyers who chased it are trapped, and their selling can turn a top into a sharp decline. This screen lists stocks on the Toronto Stock Exchange that set a new 52-week high within the last five trading days but now close below their 20-day moving average. Prices are in Canadian dollars, and the list covers TSX-listed stocks with at least C$1 million in average daily trading value.

Screening formula:
exch(tsx) and type(stock) and advol(21) > 1 and (price new_high 252)@[1..5] and c < sma(20) and sortby(chclose, asc) and show(chclose as change_pct)
 
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