Found this one with my top gainers scan as well around 2 after it made big run up. Waited for a pullback...got in on confirmation. I waited to scale out as it didn't make any big pops but was riding my stop up to eliminate some risk. Got out before the market closed.
Stop: 7.84
Target: 8.10
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-09 14:45:38 | XOMA | buy | $7.940 | long |
2014-01-09 15:54:53 | XOMA | sell | $8.120 | 0 |
After it hit the high of 8,05 around 2:10 it pulled back to the 9 EMA but broke through it just a little bit so it could have kept dropping however the next candle held the 9 and that was my confirmation that it was likely going to bounce and not keep dropping. I still had my stop a little farther away under the 20 SMA and 20 EMA in case it did drop a little bit more before the pop up. Hope that helps!
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When you say waited for confirmation. What exactly was that for you?