Flipped around on this one and shorted it as it broke through all MA's and had the 9 EMA curving down over the top. Popped up right after I bought it as it was quite oversold at that point but it looked like it was about to dump so I jumped in and had a loose stop above the VWAP. Ended up dumping and I sold half before my target because it looked like it could squeeze. Unfortunately I had to leave the comp around 1:30 so I sold the rest which caused me to miss the big drop.
Target: 26.25 (Low of the day)
Stop: 26.90 (right above VWAP and Trend Line)
Reward to Risk: 1.7 (a little low however since it had a large gap down the previous day I figured once it dropped, a big flush would follow)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-12-19 11:01:23 | GOGO | sell | $26.660 | short |
2013-12-19 12:34:07 | GOGO | buy | $26.420 | short |
2013-12-19 13:28:05 | GOGO | buy | $26.300 | 0 |
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Nice.