I was watching this ticker for an 11 ish HOD breakout. I saw resistance at 1.50 but that was the HOD and it had pretty good news as they received financing from an investor. It is a little bit higher float at around 20mil so I figured it would be a slow mover. I waited for it to come back to 1.40 since there was 1.50 resistance and I would still be green if it couldn't break through. Limit ordered at 1.40 and had a 1.35 stop based on previous support. It stayed above .30 and ended up climbing up to 1.45 and stayed on the trend line so I held. I was up $100 but was sticking to my plan. There wasn't enough volume and it cracked pretty quick. I had raised my stop to .40 based on new support, so when it cracked I market ordered out. It fell to .29 so I got out ok. Looking back now it did move but not until after lunch hours. Not mad at the trade, and I didn't really have a lot of nerves with this one either. Stuck to my plan,I'll get the next one.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-04-30 08:24:03 | NOVN | buy | $1.400 | long |
2019-04-30 08:24:04 | NOVN | buy | $1.400 | long |
2019-04-30 08:29:58 | NOVN | sell | $1.360 | long |
2019-04-30 08:29:58 | NOVN | sell | $1.360 | 0 |
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