I had been watching this from my pre-market gapper scan. I was planning on shorting this earlier, but never had a good entry.As I watched it slowly climb after the bounce from the first pullback I saw it breaking range and pulling above the MA's. I thought maybe it would give a quick run, and the risk looked very low as there was close price support and MA support. I had my stop set at 4.27. This did not really take off, but I was able to wring a little out of it.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-31 14:19:30 | ZNGA | buy | $4.310 | long |
2014-01-31 15:13:43 | ZNGA | sell | $4.350 | long |
2014-01-31 15:49:37 | ZNGA | sell | $4.370 | 0 |
Good entry with the MAs riding up underneath, low risk, you had a good R:R here.
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worth a shot.