Shared by
RobEsposito20
ARNC shares jumped today on high VOLUME as activist investor Elliot seeks to remove CEO Klaus Kleinfeld. The activist says stock could be worth $33 to $54 a share if its operations are improved.
The stock had a strong opening drive and cleared all recent resistance gapping above $23 and running to $25.30. The stock pulled back into VWAP around 9:30am its first test of VWAP all day. I got long 24.63 stop 24.46. My target was $25.10 the bottom resistance area from the morning top. I executed it exactly as planned.
Float - 436M
FS % - 6.79%
ATR - .69
AVOL - 5.41M
RVOL - 3.02
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-02-01 11:27:03 | ARNC | buy | $24.630 | long |
| 2017-02-01 13:03:35 | ARNC | sell | $25.100 | 0 |
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