My plan going into this trade today was to look for a long entry below 4.49. The stock ended up gapping up after opening up outside of the Bollinger Band yesterday and being oversold. I took a trade right at the resistance level I had put as my target. The trade needed to be passed on as I did not account for this scenario and it was already at my target and unlikely to breakout or would need more time then what I was giving it. I went long 500 shares at 4.72 with a stop at 4.60. The resistance level was at 4.77, right below my entry. The stock was to extended running into this level and had formed no coil underneath. I didn't think this one through at all. I ended up getting stopped out as it hit resistance and dumped below the 9 EMA.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-13 09:43:18 | ONVO | buy | $4.720 | long |
2015-03-13 10:03:16 | ONVO | sell | $4.600 | 0 |
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