Webby % Off 52 WeekThis indicator measures a stocks distance from its 52 week high. The concept is based on what Mike Webster shared on his appearance on IBD Live, allowing users to see if a current pullback from the highs is normal compared to historical pullbacks or if more attention is warranted.
It is also important to pay attention to a stocks 52 week high in relation to it's current price to confirm trend, spot potential breakout levels or see if the high acts as an area of resistance.
The indicator has 3 different zones with shaded backgrounds to easily spot the distance off of the high.
Zones
Green Zone - 0 to 8% off highs
Yellow Zone - 8 to 15% off highs
Red Zone - 15 to 25% off highs
Similar Healthy Pullbacks
Possible concern as pullback undercuts previous pullback level
