Quite a bit of capitulation moves today across the market, ended up making for some good mean reversion longs. Focus in here is on CAPR 0.00%↑ that happened later on in the day.

How I traded this:

CAPR ended up hitting scanner as it was breaking on volume to new lows. It started accelerating to downside and I got interested in looking for the mean reversion when we broke below the previous daily low area. Usually when we break major levels like this we start accelerating harder which we did.

From here I am watching the halt down/limit down price; ideally I want it to get near it without actually going into the halt, these usually rubber band the hardest when this happens.

From here I start looking for the next steps to classify when I want to take the trade:

Step 1: We start accelerating to the downside on increased volume: