JMIA opened strong and broke above premarket highs. Likely didn't take the initial breakout because of the 200 EMA on the 5 minute chart being resistance at 17.16. JMIA ripped through the 200 and went to 18.50 before pulling back. Price held above vwap for 10 minutes forming no new low. Took 100 shares long just above vwap for a starter. Added second tier when price broke above previous candle's high. Exited at resistance point at 18.50.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-08-05 09:56:00 | JMIA | buy | $17.878 | long |
2020-08-05 09:59:31 | JMIA | buy | $18.150 | long |
2020-08-05 09:59:55 | JMIA | sell | $18.542 | 0 |
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