Shared by
tee
Day Chart: Earnings gap down, oversold bounce
Buy: price was holding MA area, bought in anticipation of continued move up
Order:
9ma (declining)
20ma (declining)
VWAP
stochastics - negative momentum
Sell: the same bar I entered, the stock flushed past my mental stop. I then justified that it would have been too tight and that better support was at the VWAP. stopped out as it flushed past it.
Lesson: tighter stop. stock never had a steady remount of the MAs as I've seen on similar patterns so I should be prepared for more potential to the downside or even avoid setups that are not as clean as they could be for now.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-05-07 13:00:00 | CCOI | buy | $32.750 | long |
| 2015-05-07 13:21:00 | CCOI | sell | $32.400 | 0 |
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