Shared by
Reggie1634_BOWS
2016-06-30 21:12:52
So I have been following this stock for a while. I love the range in its moves, I have had good and bad trades on it. On a Daily chart the stock is right at the top of its range again. I say again, because today it the 3rd tap on the 125.25 price resistance area. I was thinking that it really needed at least one more pullback and consolidation before it made an attempt at braking out over this resistance. However as I watched the 5 minute intraday chart, I could see higher lows forming and the stock was beginning to get a tighter and tighter coil with the MA's riding up underneath it and so I took a long position at a basing point at 124.50. From there I sold into spike after it broke the 125 resistance area. I will continue to watch this over the next couple of days, watching for pullbacks to support and get long for the next legs up. to me it looks like the stock has room to move
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-06-30 14:14:00 | NUGT | buy | $124.510 | long |
| 2016-06-30 15:10:00 | NUGT | sell | $126.780 | 0 |
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