Bought this big % gainer on a dip but got in a little early. Didn't bounce like anticipated so got out.
Really bad pre market entry. At first it was looks like rebound from 20 EMA, 8:14 AM CST, but actually it was other side of the 7 steps model., so, I jump on the #4.No good rebound after. Exit with loss.
Dip buy on a slow mover bouncing back up. It did get to $1.12 which was my goal, but in a choppy fashion. This was more of a practicing taking these kind of trades.
I wish I had bought a full position, not just this small watching / testing position.
Entry comments: I bought the dip back to VWAP from its initial spike. The company has won a contract that reading the headline suggests a $158 million contract which it could be, but reading on it says that it projects revenues to $158 million. This must mean the companies revenues are zero right now. I don’t want to overstay here, but I think that it can bounce.
Exit comments: I sold at my goal price. I was wise to not want to overstay as my exit was near the top. Very happy with this trade.
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