Play: Triple tap flag
Stock squeezed, broke the first flag then put in a top at 4.70 and tapped a couple times. It was either going to flush or have a last squeeze if it were to make a higher low. When it held near the highs and did make a higher low, and volume came in, I got in for the short squeeze as the stock seemed overcrowded. In hindsight, it was a bit extended at that point but had to take it as it could have had one last squeeze since it was making higher lows. It didn't and when it was struggling to break out, I put my stop at the 9ema as this would mean a failed break out.
Reasons to sell: stopped out, 9ema crack
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-30 11:38:22 | GENE | buy | $4.700 | long |
2015-03-30 11:46:00 | GENE | sell | $4.650 | 0 |
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