IPG wasn’t in my morning game plan but was found mid day on one of me scanners. It released earnings today and they were good, it was trading higher after its gap down. I got in on a pullback to VWAP at 22.28. The trade was working at first but then a wedge pattern was emerging right above VWAP. I took off half of my position at 22.34 because the trade didn’t work right away and the leg up in the morning didn’t have pullbacks like the one from 1:25pm to 1:35pm. It broke out of the pattern and dropped below VWAP, I got stopped out from my other half at 22.19.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-07-23 13:21:32 | IPG | buy | $22.280 | long |
2019-07-23 13:44:12 | IPG | sell | $22.342 | long |
2019-07-23 14:17:10 | IPG | sell | $22.192 | 0 |
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