BONA was overextended on the daily and it was a Rubber Band Snap back set up.
$12.30-12-20 area was a better entry for a short at the lower high and failure for the previous high to hold but I wasn't paying attention to the stock at the time and missed the better opportunity.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-20 12:49:57 | BONA | sell | $11.950 | short |
2015-05-20 12:57:40 | BONA | buy | $11.900 | short |
2015-05-20 13:00:50 | BONA | buy | $11.820 | short |
2015-05-20 13:01:43 | BONA | buy | $11.770 | 0 |
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