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Entry comments: Stock broke out recently above multi-resistance at $5.50 and is now retracing. Although the chart is slow today, this play has strong support at $5.50 and is known for holding above breakout levels and on retracements. I'm not big on swing trading, but this is for my paper account and it can make for great practice. Also, banking on some buyers coming in at these levels today and could possibly reach $5.70 - $5.80 by close. We'll see.
Entry comments: Entered on the first bullish engulfing candle. I feel I entered the trade a little early and it would've been safer to watch the trade close above VWAP. That said, the support on Level II was there to justify the entry. If I had cut losses quickly, I would've been shaken out below $8.44. Nevertheless, on strong news, a high PT, and level II backing, I held through and will sell in the pre-market Monday morning.
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