This was a quick scalp. RELI showed up on scanner as Top volume/gainer. The intraday uptrend looked tradeable. I didn't look deeply into this stock/trade or at its fundamentals. I got in and out w. 500 shares on the same candle. There was an upward channel formation throughout the day that broke around 2pm-ish giving short opportunity. Now that I look back during review of this trade, I see that the stock closed up 18% prior day (1/3/22) on no news. This was a low float name w. a HIGH SHORT INTEREST (about 10 million shares in its float w/ short interest around 53% of its float).
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-01-04 13:54:09 | RELI | buy | $9.800 | long |
2022-01-04 13:54:09 | RELI | buy | $9.800 | long |
2022-01-04 13:54:28 | RELI | sell | $9.850 | 0 |
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