Hello,
I would like to find stocks whose momentum is actually increasing (over some period, e.g. 30 days of trading), even if the momentum rank might be fairly low, not stocks with high but static momentum.
Is there a way to create a screener like this, and how ?
(Reason is that I find that it is often too late to buy stocks with high but static momentum).
Thanks in advance.
From the sounds of it, you want to create an Absolute momentum screen (rather than use the Stock Ranks which are relative). Absolute momentum might look something like this:
Price vs 52 wk high: -5
1wk price change >0
3m price change > 0
6m price change > 0
1 yr price change > 0
Price vs 50dma > 0
Price vs 200dma > 0
Of course, you will then need to create your personal buy and sell rules which fit your risk tolerance etc.
Alternatively, you can use Momentum Oscillators such as MACD, RSI or Stochastics. You can't screen for these signals on Stockopedia unfortunately, but they can indicate whether short term momentum is present. You can apply these to your charts and more information is contained in the glossary.
Hope this helps!
Thanks ! I will try that.
Actually, I had this in mind: when looking at the triplet (Quality, Value, Momentum) of a stock on the top right, sometimes there is an upgrade green arrow or downgrade red arrow, when one those values has increased or decreased since 30 days, and I wondered if we can get access to the increase or the decrease itself of the value.
Just building on BH1991s reply you can also screen for accelerating momentum.
So if looking for acceleration after a turnaround you might have:
3m price change >0
6m price change < 1x 3m price change
1wk price change > 1x 3m price change
etc..
Super !
I put:
3m price change > 0
6m price change < 0,5 x 3m price change
1m price change > 0,5 x 3m price change
and it gives results close to what I was looking for.
I can also combine with additional criteria like Stockopedia Momentum Rank > e.g. 40.
Thanks to you both !
