ZION released bad earnings and I had set an alert at a resistance level in order to enter a short position. The resistance level was 42.45 and it was trading above it. The previous peaks above VWAP failed 6cents above VWAP so I put my short order in 6 cents above VWAP, I got filled at 42.59. The pullback was not quick and some buyers were holding, it had snow spent more time above the 42.59 level and the pullback was looking more like a lower high. I covered my short at 57c and 52c for a scratch trade. The price did in fact bounce from this 42.45 level and preceded to trend higher.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-07-23 14:41:16 | ZION | sell | $42.592 | short |
2019-07-23 14:55:19 | ZION | buy | $42.560 | short |
2019-07-23 15:00:02 | ZION | buy | $42.510 | 0 |
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