This very small float stock (1.4M) had an earnings release on this day. The stock did come up on my intraday scanner, but it didn't have any volume. But I shouldn't have underestimated the potential of a low float stock with a PR. By the time I decided to get into the stock, it had already produced multiple bull flags that would have been perfect entries. I also should have been more confident in the bull flag setup where I had entered, because I could have entered earlier in at around $10.00. Plus this setup occurred before lunch time. I should have scaled half at the resistance level right before MOD between 12.30-12.78, and then sell the rest once the stock pulled back. Instead, I waited to sell everything after the stock pulled back and bounced back to retest 12$. In fact, I was in the red (at a loss) during that aforementioned pullback. Luckily the stock bounced back, because I didn't have a hard stop (It had a very wide spread).
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-10-28 10:47:51 | GRVY | buy | $11.130 | long |
2016-10-28 11:22:43 | GRVY | sell | $11.770 | 0 |
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