Swing trade for a bounce off the 20dma and into a breakout at $28.50. Bought at $27.57, stop under $27.00 (50dma), target $28.50+. If it does break $28.50 the next logical target is $29.50 (high of mid may), then the 200dma at $30.00.
Update: 8/29/12: Sold into previous resistance near $28.50 and booked 60 bucks profit on only 75 shares. This was a test trade along with ACC and AWAY to see how these bounces work. Could have given it a little more time or (realistically) take more shares if I were really going for a serious gain.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-08-23 09:46:00 | BRC | buy | $27.570 | long |
2012-08-29 12:06:00 | BRC | sell | $28.360 | 0 |
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