Great daily, holding above major daily support=$50 for 3 days in a row.
Today, it was gapping higher pre-market just shy of R1=$51.5, ready to break higher towards R2=$52.4.
Premarket plan as follows:
a) BULLISH as long as it holds above S1=premarket pivot=$51-51.2.
b) (P) Strength+Consolidation--->Breakout
c) (S) Bullish Bias - Holding Support at S1=$51-51.25.
MU opened below S1, immediately reclaimed the level, and chopped around between S1 and R1 for about 10mins, before finding direction.
However, during the chop, it never lost S1=$51.25, instead it was able to hold above that level at least 3-times to the penny!!
Got long Tier 0, risking below LOD=$51.1, added half-tier I as it was breaking through R1, expecting the push to R2=$52.4.
Took profits on the way to R2, stopped out of last piece when it lost VWAP.
(+) Great thesis/idea and execution. Overall, nice trade.
(+) Participated, got involved, broke the mental barrier.
(+) Great stop out of last piece.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-06-19 09:33:45 | MU | buy | $51.520 | long |
2020-06-19 09:33:46 | MU | buy | $51.510 | long |
2020-06-19 09:33:46 | MU | buy | $51.520 | long |
2020-06-19 09:33:49 | MU | buy | $51.540 | long |
2020-06-19 09:38:27 | MU | buy | $51.550 | long |
2020-06-19 09:42:14 | MU | sell | $51.890 | long |
2020-06-19 09:51:10 | MU | sell | $52.290 | long |
2020-06-19 10:21:55 | MU | sell | $52.570 | long |
2020-06-19 12:00:16 | MU | sell | $51.940 | 0 |
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