It was a little overextended, but there were a couple of factors that I liked about this trade. You can see that the stock was accumulating mildly throughout the day. You don't see a lot of long range bars. And with the stock heading towards the high of the day I took this stock with the idea of getting out at the high of the day if there was any signs of weakness at resistance around 27.50... TI saw some mild weakness, and with only 300 shares just took profit. But off course it broke out and I missed out on some extra cash, but overall it worked out for me.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-27 13:53:43 | HPQ | buy | $27.320 | long |
2013-11-27 14:15:41 | HPQ | sell | $27.440 | 0 |
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