After analysing $GRPN and $CNBX on Tuesday before market open i was very excited to see how they were going to turn out and if my assumptions and analysis were correct, Firstly I started looking at $GRPN as thats the one that I had the most fresh in my mind and wanted to see if it was going to break its resistance at 4.70 and then go on to test the next resistance at 4.80. It opened and went straight down to the support at 4.60 which i was quite pleased about as I could recognise that the past few days had this exact pattern in which it would dip at the open and then go onto break new highs for the day, so i was hooked and made a mental note that i would enter once it broke past its previous day close which it did, so i was hooked to see if it could break 4.70 which it then did and i now wanted to see if it could go higher. But due to my lack of availability to level 2 and live charts on my interactive broker free account i couldn't see that there was barely any volume compared to the previous days, which would have been a good indicator to the fact that it wasn't going to push much higher.

Lessons learnt-

-Always check the amount of volume compared to the previous days

-Watch level 2

$CNBX would have been a great stock to watch if i had the opportunity but as i was too distracted watching $GRPN i completely missed its open above the previous high and then run a lot higher. I believe i could have spotted this if i had the software to see multiple stocks price action at the same time instead of refreshing a google page to see the new prices.

Lessons learnt- 

-Get software with watchlist capabilities

-Don't get fixated on one stock

Tomorrows watch:

$CNBX will be the stock ill be watching tomorrow on both the long and the short side as I believe theres a clear support line which it could potentially bounce off of a few more times before it cracks. Although since yesterday was the first red day there could now be a lot of people in short positions making the bounce a lot smaller. I think that it will possibly open down tomorrow and quite quickly drop down to the 3.50 support that has been used about 4 times in the past week. in which it will bounce slightly back to around 4.30 and repeating this getting less and less until it cracks the support at 3.50

Any comments would be greatly appreciated as i'd love to hear what anyone has to say about my thoughts and analysis

Thanks, Tradingdaily27