Shared by
Emilie_BOWS
Daily: earnings breakdown to support level
Intraday: bottom bounce, bull flag
Stock gapped down hard on earnings report but I noticed that $44 level could be support so I was waiting to see what it did around that level. It was breaking under $44 but there was no immediate follow thru and was just flagging. My plan was to short a pull back if it did break down or to buy a break out over the 20 EMA as the price action also looked like a bottoming formation. The latter scenario happened. I got in with a tight stop and scaled out at prior resistance levels. When I took the trade, I planned to get out at VWAP but changed my mind after I saw how strong the reversal was.
I added on the 1st bull flag, scaled out 1/2 at $46 and then trailed my stop under the 9 EMA. I did a good job following my stop plan and holding till $47 as I was able to ride the $1 surge 30 minutes into the close.
Nice trading day with 4 trades - 4 winners !
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-01-25 13:05:05 | TXT | buy | $43.950 | long |
| 2017-01-25 13:17:37 | TXT | sell | $44.700 | long |
| 2017-01-25 13:52:17 | TXT | sell | $45.720 | long |
| 2017-01-25 14:20:59 | TXT | buy | $45.410 | long |
| 2017-01-25 14:38:38 | TXT | sell | $46.000 | long |
| 2017-01-25 15:54:47 | TXT | sell | $47.030 | 0 |
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