Shared by
Emilie_BOWS
Context: tech sector was very strong today with QQQ gapping over the daily 50 SMA, ATVI had strong daily chart, pulled back to the 50 SMA and looked ready to get moving again, today nice breakout in the morning
Intraday: day long consolidation.
I got in on new HOD with tight stop just below the 20 EMA. I guess my timing was early. The real breakout with surging volume happened around 2pm.
It kept moving up as expected. I added over $60 and took profits on the big spike which put it at resistance area on daily.
It had another nice flag and breakout near EOD but I didn't want to take trade too close to market close.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-07-12 13:06:14 | ATVI | buy | $59.630 | long |
| 2017-07-12 14:26:28 | ATVI | buy | $60.100 | long |
| 2017-07-12 14:49:46 | ATVI | sell | $60.760 | long |
| 2017-07-12 14:54:36 | ATVI | sell | $60.690 | 0 |
Comments
Emilie_BOWS
It was on my watchlist. I keep a set of (big) watchlists for different sectors: tech, biotech, financials, retail, etc. When I feel a sector is hot, I'd go to that sector watchlist, scan through all the charts, pick out tickers that look good (flagging or pulling back to support) and put them on a short list for either intraday trading or swing entry. It is really a manual process except that I filter for >$5 and >500k average daily volume. I swing trade so that's not too much a waste of time.
I've seen tech stocks seem moving again, for example, NVDA, SQ, AAOI, AMZN, so I put a few that haven't run yet on my watchlist for today. Most of the tickers on my watchlist never give a good intraday setup but I occasionally get one or two that work well.
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Hey,
How did you find this beforehand since it wasn't up 5% until after the breakout? Was this on watch for you and if so what scan did you use?