Stock Pick
always play a level zero game
-a pharma company with post-IPO volatility
-gap up from $4 to $7.1
Strategy
-strong rejection after the limit up for good short entry
-target price at Fibonacci retracement 38.2% at $5.4
Execution
-slow to exit in second trade
-presence of double bottom formation around 10.30 with higher high at 10.45 retard the downward momentum
-possible profit of $220 instead of %75 (34% efficiency)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-04-01 09:48:03 | UPC | sell | $6.550 | short |
2021-04-01 09:57:03 | UPC | buy | $6.178 | 0 |
2021-04-01 09:59:17 | UPC | sell | $6.170 | short |
2021-04-01 10:06:00 | UPC | buy | $6.596 | 0 |
2021-04-01 10:14:01 | UPC | sell | $6.300 | short |
2021-04-01 10:51:15 | UPC | buy | $6.100 | 0 |
2021-04-01 10:52:52 | UPC | sell | $6.030 | short |
2021-04-01 11:11:06 | UPC | buy | $5.800 | 0 |
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