going for an o/n hold on this. Aware of its S-3 in effect, but it was made effect on 5/8/20 and lots of volume has traded from that date until yesterday meaning the dumping is probably over.
Reason for conviction for the o/n hold: 1. historic vol on 1 yr daily 2. catalyst 3. vol > float 4. history shows it can hold 2 day runs
Got out as it was having trouble getting away from VWAP towards the upside. Something I noted was that the catalyst for BIOC was not on the main trading news websites. I did not find anything on Yahoo, Finviz, Marketwatch, or BigCharts. Not even TDAmeritrade. This means that not many ppl feel confident to buy rn. Had the catalyst been on all these websites then a gap up could have been possible.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-06-18 16:11:13 | BIOC | buy | $0.9100 | long |
2020-06-18 18:40:20 | BIOC | buy | $0.9240 | long |
2020-06-19 09:02:35 | BIOC | sell | $0.8904 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!