Screening Metaverse Stocks by Float Size and Weekly Candles

Summary

This post proposes selecting Chinese metaverse-related stocks with no more than 5.5 billion shares in free float and a positive weekly candle, described as a red bar. It interprets the candle as a sign of strengthening buying pressure and suggests that smaller float size may help narrow the universe. The example indicator compares weekly price data, while the accompanying Python sketch attempts to identify a newly positive weekly condition.

The author notes that weekly bars can overlap across periods and that the screen relies on technical signals while ignoring company fundamentals. Suggested refinements include considering broader market and industry trends, company information, and additional indicators. The post offers no backtest or performance evidence, and its code example has apparent data-source and field inconsistencies, so the screening rule is best understood as a rough illustration rather than a validated strategy.

Key ideas

• The proposed universe is metaverse-related stocks with free float at or below the stated share limit.
• A positive weekly candle is treated as a signal of stronger buying activity.
• The post warns that candle timing can be ambiguous and that technical-only selection omits fundamentals.
• Market direction, industry conditions, and additional indicators are suggested as possible filters.
• No performance evidence is given, and the sample code appears inconsistent with the described data fields.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.