Biotech company with news of positive test results. Gapped up 30% premarket. Action was making higher lows into the open. Ripped up slightly over $16.00 on first 3 candles. Waited for pullback/consolidation and got long at $15.96, could have been more patient for pullback to $15.60s. Stock had big spreads on Level 2. Action spiked up again and started to show some weakness. Was able to close position at $16.50, price action immediately reversed to the downside.
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