Finding stocks ready to breakout intraday can be quick or thorough, depending on your route. You can find stocks ready for breakout for intraday by monitoring a basket of stocks throughout the day if you have the time and patience. They are easier to find when a general market breakout occurs, which can be observed using the benchmark index ETFs.
Another way is to use a real-time intraday breakout stock screener that will alert you to stocks that are breaking out. It’s always important to avoid impulse trading or chasing entries when you receive alerts or a breakout list. These screeners or scanners are great for finding stocks breaking out today. You can also watch the new high of the day list to find stocks poised for breakout or breakout stocks to buy now. Some screeners will specifically find patterns like cup and handles.
Stocks that make new highs tend to be in a breakout or uptrend. If you’re wondering how to find breakout stock in swing trading, it’s the same routine but with wider time frames since swing trading requires holding for at least a day overnight.