Shared by
jmos_BOWS
Play: Parabolic
Stock gapped up, right under 200sma, had earnings which weren't that good so not sure as to why the gap. It has a history of fading its gains. Wanted to see a stuff at the open but nothing was going on so left it but then squeezed with volume so got interested when it was struggling at pre-market highs. When saw volume coming in without breaking out, I got in and looked weak but it held and squeezed more. Knew it had resistance at 3 then 3.5 so added at 3 and waited for pullback and see if it was going to hold or just fade. That candle on the 5mns gave me confidence to hold, scaled out along the way.
Reasons to cover: VWAP, extended, LOD, extended, change of trend
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-03-15 09:41:24 | SZYM | sell | $2.808 | short |
| 2016-03-15 09:45:58 | SZYM | sell | $3.000 | short |
| 2016-03-15 09:51:42 | SZYM | buy | $2.820 | short |
| 2016-03-15 09:55:41 | SZYM | buy | $2.770 | short |
| 2016-03-15 09:55:54 | SZYM | buy | $2.740 | short |
| 2016-03-15 09:58:05 | SZYM | buy | $2.680 | short |
| 2016-03-15 09:59:14 | SZYM | buy | $2.660 | short |
| 2016-03-15 10:13:39 | SZYM | buy | $2.560 | short |
| 2016-03-15 12:21:18 | SZYM | buy | $2.380 | short |
| 2016-03-15 12:31:47 | SZYM | buy | $2.220 | short |
| 2016-03-15 14:34:05 | SZYM | buy | $2.440 | 0 |
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