Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Aug 03 2020: Announces Positive Topline Results from ENHANCE for Seladelpar in Patients with Primary Biliary Cholangitis
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Bull Flag
-Other notes: They were actively diluting / using their shelf
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 4.9 level
Confluence: Whole $
Strike Zone: 5 - 4.85
Sizing (lots + emergency): 2000+1000
Risk (stop / Rs): 4.64
Review / Lessons Learned
Looked like a good setup because of the prior lengthy consolidation but then my TAB told me about an ATM they have. It was actually very heavy and it couldn't bounce for an A+ setup, so were assuming they're using their shelf to dilute today scratched it because it was heavy due to dilution.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-08-03 12:55:56 | CBAY | buy | $5.050 | long |
| 2020-08-03 12:56:27 | CBAY | buy | $4.960 | long |
| 2020-08-03 12:57:40 | CBAY | sell | $5.022 | long |
| 2020-08-03 12:57:40 | CBAY | sell | $5.023 | long |
| 2020-08-03 12:57:40 | CBAY | sell | $5.022 | long |
| 2020-08-03 12:57:40 | CBAY | sell | $5.020 | long |
| 2020-08-03 13:00:12 | CBAY | sell | $5.020 | long |
| 2020-08-03 13:00:12 | CBAY | sell | $5.023 | long |
| 2020-08-03 13:00:12 | CBAY | sell | $5.020 | long |
| 2020-08-03 13:00:12 | CBAY | sell | $5.020 | 0 |
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