Shared by
ivanka_BOWS
ORMP was superextended on the daily finishing %72 up the previous day.
My short entry today was due to the fact of this stock being overextended, riding the moving averages underneath, had bear flag formation earlier this morning, and hit the 200 SMA as a resistance on the daily and bounced back down. I shorted it on the next bear flag and kept scaling out until it hit my stop.
Oh and the price range got so narrow with a tiny volume saying there were not enough buyers to push that stock price higher, thus it had to go down.
http://prntscr.com/6l81eg
http://prntscr.com/6lc8a2
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-25 10:17:00 | ORMP | sell | $7.190 | short |
| 2015-03-25 10:19:00 | ORMP | buy | $7.260 | 0 |
| 2015-03-25 11:03:00 | ORMP | sell | $7.050 | short |
| 2015-03-25 11:08:00 | ORMP | buy | $6.810 | short |
| 2015-03-25 11:26:00 | ORMP | buy | $6.590 | short |
| 2015-03-25 11:33:00 | ORMP | buy | $6.440 | short |
| 2015-03-25 11:54:00 | ORMP | buy | $6.710 | 0 |
| 2015-03-25 13:58:00 | ORMP | sell | $6.480 | short |
| 2015-03-25 14:10:00 | ORMP | buy | $6.360 | short |
| 2015-03-25 14:12:00 | ORMP | buy | $6.270 | short |
| 2015-03-25 15:06:00 | ORMP | buy | $6.410 | 0 |
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