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Scan for a stock that is better than (faster growth, faster snap back than and less fade than) AVGO

Hello / Good Evening / Good Day,
Newbie to S.C.A.N. here. Per headline, is it possible to find another tech stock that is a better choice than AVGO ?

I've been an S.C. member for at least 5 years and have always thought scanning for stocks is way too difficult to wrap my head around. Hope I can change this knowledge deficit soon. Thanks for your help.

Best Answer

  • markdmarkd mod
    edited February 2016 Accepted Answer
    Hi @CDS2233 , it does take some patience and perseverance to learn scanning, especially if you haven't had any exposure to programming. But the scan language is greatly simplified compared to a "real" computer language. The disadvantage is, there are some things you can't do, but the advantage is, it's much less difficult to learn because there are many things you don't have to worry about (like initializing and keeping track of variables), and yet you can do just about anything most traders would want to do. The "rules" for the scan language mainly have to do with punctuation (like brackets) and keywords, which are very, very few compared to a real computer language. So don't be afraid to give a try. See my response to the "EMA 150" question for some ideas about how to get started. Maybe read that first and come back here for the rest of this comment.

    In your case, you are interested in technology stocks, so you would might set up your universe (best first step for any scan) by selecting the "Technology Sector" from the "Sectors and Industries" drop down on the Advanced Scan page (or select an industry under the Technology heading) and remove the leading "and":

    [group is TechnologySector]

    Then, since you are asking to compare technical qualities of different stocks for multiple technical qualities, you would probably choose to look for a SCTR ranking greater than AVGO's (you are probably familiar with the SCTR indicator, but if not, go to Chart School to read up). SCTR is remarkably good, but as with any scan, you may get some hits that aren't really what you want. Don't let that worry you - concentrate on the good hits. As of today, 2/7/2016, AVGOs SCTR is 82.3, so you would select a "SCTR" option from the "Price, Volume and SCTRs" drop down and edit it:

    and [SCTR >82.3]

    That should get you started.

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