Slingshot Refresher.

One of my favorite setups is a setup I call the Slingshot.   The theory behind this setup is that we take a powerful stock and stretch it with pull back.  Then when momentum resumes we enter.


So that theory requires two component: (1) determination of power; (2) determination of resumption of momentum.  Power can be found using a variety of scans.  52 Week high, RSI, High OBV, high Mdt.   High RS compared to the S&P.  Feel free to use your favorite.

The resumption of the momentum for the slingshot is triggered by the break of the 4EMA of the HIGHS.

Here's a few examples: