Bought pullback (low volume after a heavy volume buy) as it bounced off 9EMA. Stopped out as it cracked below 9EMA.
In again as it broke above trendline and the 9EMA and 50EMA on heavy volume (about a 10c chase, but still okay as I expected a 75 cent move and had a tight stop). Stopped out as it flushed back down below 9 and 50.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-13 10:57:32 | ISIS | buy | $49.790 | long |
2014-01-13 11:06:51 | ISIS | sell | $49.570 | 0 |
2014-01-13 11:38:43 | ISIS | buy | $49.400 | long |
2014-01-13 11:41:12 | ISIS | sell | $49.150 | 0 |
Stock has been running for 3 days now.9 EMA pullback, flag usually doesn't apply. You move on and find something else.
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No setup. Stock is also extended on daily chart. Should be thinking short not long.