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WWE actually met two conditions for a bounce off of support. First, it found support at its lower 15.2 daily lower Bolinger Band and second, it had a green dot signal. Review my blog and glossary for definitions of these set-ups. In plain language, the stock, which is in an up-trend,  has just bounce off of support. If I buy such stocks I place my stop below the recent low  where it bounced (around 83.89 for WWE). Note the above average volume the past 3 up days when WWE found support.

I like to buy recent  IPOs (within last 4-5 years) that form a multi-month top and then break through on above average volume to an all-time high. In my jargon, they have had a GLB (green line break-out). I like getting into a newly public stock because it has a lot of room to gain as traders see the new highs and jump on board. By the way, I never hold a GLB that closes back below its green line, but I often will repurchase it if it closes back above its green line. In a future post I will tell you how I use TC2000 to find these gems. Below are a few examples of IPOs that have had a successful GLB.