This screener is built around price reacting at support.
What it’s doing step-by-step:
• Price hits or slightly breaks a recent pivot support level
→ this is the key part. It’s a defined support level, not a random dip.
• Despite trading at/below that support intraday, the stock closes green
→ tells me buyers are actively defending that zone.
• Yesterday’s close was below the 20 EMA
→ short-term trend was weak / under pressure.
• Today’s close reclaims the 20 EMA
→ early sign that momentum is shifting back up.
So the idea is:
support gets tested → sellers fail → buyers step in → short-term trend flips.
I’m using this more as a failed breakdown / support defense scanner, especially useful in mixed markets where clean breakdowns might not follow through.
Not an instant buy signal for me but more of a “pay attention” list to see which names can build follow-through above the 20 EMA.
How would you guys trade this kind of setup? same-day entry, next-day confirmation or just context for price action?
