Shared by
beno
Technical Analysis – Long Term
-Down trend
-Has tendency to gap down then run up for the next couple of days
Technical Analysis – Intraday
-Gapped up back into early October range
-Shorts trapped from Oct 28th and 29th
Catalysts / News
-FDA Panel backs contraceptive patch Twirla
Original Plan / Strategy
Try to take advantage of trapped shorts from prior two days. Note that some people from early October will also be taking profits to break even after the gap down scare.
Review
Tried to slowly scale into my washout long then stock got halted due to volatility. when it resumed it traded down near the $1 level where I stopped out of half my position (should have added as it was near support).
Forgot about the bigger picture and changed my bias to short after that morning death drop, started scaling into my short to early and when it broke above 1.30 level I added. Played it conservatively after that as the stock was grinding and wasn't sure which direction it would take after.
Lessons Learned: Support area is a good place to add to washout longs. Resistance ares are good spots to add to shorts; DONT FORGET THIS!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-10-31 09:50:24 | AGRX | buy | $1.180 | long |
| 2019-10-31 09:51:24 | AGRX | buy | $1.120 | long |
| 2019-10-31 09:57:00 | AGRX | sell | $1.030 | long |
| 2019-10-31 09:58:47 | AGRX | sell | $1.150 | 0 |
| 2019-10-31 10:04:25 | AGRX | sell | $1.230 | short |
| 2019-10-31 10:23:28 | AGRX | sell | $1.370 | short |
| 2019-10-31 10:33:53 | AGRX | buy | $1.370 | short |
| 2019-10-31 10:45:50 | AGRX | buy | $1.340 | short |
| 2019-10-31 10:46:09 | AGRX | buy | $1.330 | short |
| 2019-10-31 11:16:46 | AGRX | buy | $1.350 | 0 |
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