Setup: Flagging/coiling/ascending triangle
$15.10 offered resistance several times, yet the stock was making higher lows, thus forming coiling action or ascending triangle. It popped a little, but not enough to take profit. Fortunately, I had a tight stop in case it failed to bust through to the $15.40 -$15.5 area.
Maybe not a good stock to day trade. This is probably a better stock to swing.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-05-08 12:26:08 | RDN | buy | $15.100 | long |
2014-05-08 13:11:44 | RDN | sell | $15.000 | 0 |
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It's a crapshoot trading during lunch.