Got decimated after PINS acquisition went south, got decimated^2 after ER #s, with gap-down and continuation lower as funds ran to realize losses before year's end.
Approaching significant level of interest=confluence of support=$172-184 area:
a) major inflection point in 2020, that buyers had defended at least 2-times, before resolution to the upside, b) major ascending support line established in 2018, c) boundary of significant volume profile
Once buyer became obvious in-front of $179,
-- Got long filler size, risking tight stop below the low=$179, in order to be able to re-engage closer to $172 if need be.
-- expecting an over-sold bounce higher, then a retest of $179 low. Then will see which way it goes.
-- Would like to add main tier, once it reclaims 1st pressure point $188 & 9SMA@daily, consolidates above for 2-3 days with buyers stepping up
-- 1st target 20SMA@daily, main target 9SMA@weekly
Moved quickly thru 9SMA@daily reclaiming $188 pivot. Sold strength. Will stay light until we get more clarity.
Very weak action. Tightened stop. Got stopped out remaining size per plan as this thing looks set for new lows.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-12-06 09:59:10 | PYPL | buy | $183.125 | long |
2021-12-07 09:25:00 | PYPL | sell | $188.820 | long |
2021-12-08 09:48:40 | PYPL | sell | $193.880 | long |
2021-12-08 14:30:41 | PYPL | sell | $195.080 | long |
2022-01-10 09:32:24 | PYPL | sell | $183.730 | 0 |
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