THRM appeared on our Consolidation Breakout Short scanner a few minutes after the open. The stock had consolidated for 5 weeks above $29.78 as seen in the daily chart above.
When THRM opened below the consolidation low, the trade was triggered. We entered short at $28.95 as the bear flag was forming (as shown in the 5 minute chart above). THRM traded down to a low of $28.05.
Our Consolidation Breakout Short scanner is just one of our profitable scanners. This scanner doesn’t just look at the past two days of trading. It also looks at the past 30 days of trading for very specific patterns. If you would like to be alerted to trades like these, we offer a 7 day free trial.