$MARA/700: $180.05/PROFIT

December 1, 2017

 

IMMR - D.O.W. - No overhead resistance, able to open, drop a bit buy at the bottom and sell into the rally between 7.75 and 8.00.

 

RESN - Triangle already broke out, good position to buy at dip and sell into momentum or EOD.

 

VSTM - Biotech stock, yesterday Biotechs had news that the FDA will allow quick approval if they show "early and outstanding survival benefits even in small studies" which is obviously going to allow these Biotechs more leeway into getting approved.

 

MARA - lots of premarket activity, going to gap up, fill the gap, buy at dip and sell into strength

 

MARA/700 - 18M - Being this stock is going to gap open, I expect it to drop to previous support.  I would then dip buy in between 4.50 - 4.60 and sell 1/2 of my position at 4.95, and the other half between 5.40 - 6.00.  Breakout area/EMA ARE MY STOP LOSS, DIP BUY STOP LOSS AT 4.40

 

Remember that the EMA’s, and Trend lines serve as resistance and support.  So when a stock is trending above or below it, apply them correctly and be patient.  Feel the market and let it tell you what it wants to do.

 

RECAP:  Bought in at during consolidation at 700/4.5874, it was building up and forming a triangle for the breakout.  Then continued to consolidate, I had a mental stop of 4.46, it went down and kissed it so I cut my losses short at 700/4.47 for a loss of $85.  I then continued to watch the stock, and let it continue to form a larger triangle, I then bought pre breakout at 700/4.6352 and it continued to consolidate and form the triangle.  It slowly climbed and broke resistance of 4.69 and kept climbing following the support trend line I applied.  Resistance formed at 4.80, and it broke through climbing all the way up to 5.07.  It was having trouble keeping momentum above $5.00 so I sold quickly at 700/5.01, it crashed a minute after I sold.

 

I AM NOW IN THE PROFITS!!!  I have officially made back EVERYTHING I lost earlier this year.  Hard work pays off, it’s a great feeling seeing everything you’ve worked for come together.  

 

Keep studying.

 

PER ASPERA AD ASTRA

 

-Raul

 

TOP DOWN LIST

DO NOT DELETE

 

-RISK/REWARD: 1/5

 

-Float: 18M

 

-Volume: >7M

 (2% OF VOLUME RULE!)

 

-Short squeeze momentum number (1-5, 5-10,10+) w/ catalyst: .86 (IRRELEVANT)

 

-Over Head Resistance?: 5.40/6.00/6.50

 

-HYPE?: PR investor share buys

 

-EARNINGS?: No

 

-PATTERN?: Bounce

 

-GAP?: Gap Up

 

-EMA STACK: 3/6 Month (13, 200, 39), Intraday clear (13, 39, 200)

 

-MACD Histogram and Signal Lines: Bullish, signal lines in uptrend and histogram positive (.31561)

 

-MOM: Bullish (2.6496) with not much of an angle, almost horizontal

 

-RSI: Neutral (62.6252) with not much of an angle, almost horizontal

 

-D.O.W.?: Irrelevant

 

-Candle closing strong? Doji

 

THE MARKET IS ALWAYS CHANGING, AND SO SHOULD YOU.

 

PLAN THE TRADE, AND TRADE THE PLAN - THEREFORE TRADE TO TRADE WELL, NOT TO MAKE MONEY.