This spiked premarket on phase 2 news. Right before the market open it started tanking. It has a really high float, not the greatest chart, and lots of failed spikes in the past. When the market opened it tried to spike but failed and I entered like usual on the bounce off of the 13/15 ema. Got a little dicey for a second when it kept hitting 2.30 i thought it might squeeze me out. I held on for a nice fade and covered almost near the bottom. this strategy has been working.