Shared by
Gavin_Stosiek
Reason For Entry
I tried to buy this as a dip buy for the break of the resistance of previous support and the 200SMA. It was a really strong level of resistance though and I should have know that if it didn't break it the first day it wasn't going to magically break it the second day or third after the drop in volume. After being so extended it needed more time to consolidate. Still will watch it to see if it exhibits any sign of breaking that key level, such as higher volume a nice consolidation pattern or a catalyst.
Lesson Learned
For breakout plays if it doesn't go cut losses and wait. There will be an opportunity to enter the stock in the future.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-01-17 12:00:00 | INAP | buy | $1.799 | long |
| 2017-01-19 12:00:00 | INAP | sell | $1.651 | 0 |
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