Had missed the whole sell-off from ATHs=$707 to $480 low, despite stock providing ample opportunities for participation.
Thank god, they bought it after ER #s, and stock rallied into confluence of resistance:
a) major previous support pivot/bottom of 4-month trading range=$396-608 zone.
b) 200SMA@daily=$590
c) serious volume trapped at higher prices $608+
-- Offer for filler size got hit right at the open, just below $596, risking 0.5xATR for now $620s
-- Really liked the strong rejection of $596 today, follow thru the following day
-- Would add another tier if it stays below $596-608 zone, with seller keeping it down
-- 1st target $545, main target $510-520 area
02-03-2022
Small profit taking close to
02-09-2022
-- Added another half-tier as it rallied to $608 resistance, risking $620s same stop for whole size
-- I am comfortable with my size as of now, no more adds as I am underwater and doesn't look promising. Let it be:/
02-10-2022
Stopped out per plan, but literally at the peak of the move:/
How unfortunate, can't win them all.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-02-02 09:30:00 | NOW | sell | $594.850 | short |
2022-02-03 09:32:21 | NOW | buy | $570.000 | short |
2022-02-07 10:45:31 | NOW | sell | $583.957 | short |
2022-02-09 10:38:11 | NOW | sell | $606.760 | short |
2022-02-09 12:38:01 | NOW | sell | $607.770 | short |
2022-02-10 10:41:47 | NOW | buy | $620.950 | 0 |
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