INTC reported Earnings night before and gapped down over night.
It found support above 46 and traded up to 47 towards the open.
Support: 46 44.50 43.50 42.40
Towards the Open it formed a possible Backside Trade and I Had my eye at the 47 level for continuation lower and wanted to sell a spike into 47ish.
Man was this a great trade. I just took too little size as I have no feeling on how INTC trades. It was a perfect Backside Trade at The Open. INTC rejected 47 and I took a stab. It tested that level for a bit and after I opened the position moved on to watch my other stocks on watch. Let INTC play out when it sold off.
My profits were too early and I had no feeling of how far it would go and whether it would just spike lower before making a bounce. Hence I locked in some profits at 50ct to cover more at 46 support to cover here all of it.
Eventually it chopped around around VWAP and had strong support below 46. Eventually missed the bounce and perfect Decision-Candle for a bottom Bounce as I was occupied with too many stocks.
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