Entry comments: Bought on the bounce into the close when it looked like the $0.297 wall of sellers were getting taken out. Found support in mid $.27s after the gap up this morning. Traded under VWAP and looks weak but has history of red day pulls then quick reversal. Volume was strong like previous day, R/G at eod, and looks to be coming back for the highs like ABML.
Exit comments: History repeated with this with the next day gap up after a red day. Sold most of the position right at the open near the highs and the rest when the bid was being taken out. Should have kept a better eye on it the rest of the day cuz it held sideways, under VWAP, but making higher lows into the close. Similar action when I first bought and lead to another gap and spike.
| Date | Price | |
|---|---|---|
| Entry | 1/20/2021 | 0.297 |
| Exit | 1/23/2021 | 0.32478 |
- Total Views86
- Position Size2,500
- Percentage9.35%
This probably wasn't the best trade to focus on into the close. I was watching plays like $ELCR and ABML. $ELCR fell apart into the close and ABML was strong but didn't like the recent offering and risk of another due to this spike. Daily chart is holding dips but hasn't put in the sideways action to see if it will hold up yet. SL is $.29
Turned out to be a great trade but the fact I had some doubts made me think this could have easily went against me. The stock was not closing as strong as others and trended under VWAP. Well thought out trade but need to focus on bigger and better OTCs.