Finding Great Charts on Stocks Within the Biotech Sector:
Finviz can be used to scan for setups within any sector, but I oftentimes like to use it to scan for high-potential biotech plays. My inspiration for trading within the biotech sector comes from self-made millionaire trader, Kyle Dennis, owner of BioTech Breakouts.
The scan is quite simple and requires only six criteria:
1. Sector – Healthcare
2. Current Volume – Over 300K
3. Price – Under $15
4. Insider Ownership – Over 20%
5. Institutional Ownership – Over 10%
6. Pattern – TL Support
This particular scan usually produces 10-15 different tickers for me to further pursue. From there, I’ll perform additional research on the company, including upcoming catalysts that may cause a run-up. For researching upcoming catalysts, I use BioPharmCatalyst.com. Recently, this exact scan allowed me to capture nearly 25% in total returns on ZGNX.