Stock was too far extended downwards to continue a downwards momentum. I noticed that the stock was trying to break resistance at 41.5 area but I shorted the stock thinking the stock had setup a dead cat bounce and was breaking down. The stock was only grinding sideways to eventually break resistance for upwards momentum.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-02-13 10:13:24 | FEYE | sell | $41.110 | short |
2015-02-13 10:28:14 | FEYE | buy | $41.410 | 0 |
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