Stock Selection Information
No relevant news on the stock.
Watch List Reason - am ch - this idea it belonged to the AM prep sheet and had a nice run into the morning (am ch).
Pre-Market Volume - N/A
Trading Plan - LRes > 32.75 (1R)
Management
Entry Setup used: Consolidation above resistance
Trading Comments
On the way down after the break, the stock fell on green prints, meaning there where more people willing to buy the stock on the offer then hitting the bids (still price was falling down). It tried to break down below 32.77 twice and failed. When it broke the smaller down trend, I got long on the stock with 200 shares and start building a position.It was a U$18,00 trade on 200 shares.
Evaluation
It was well executed. SPY was bullish holding prices above POC, but the stock had a negative divergence around 33.00, so it was a wise decison to close the position. Sellers also start to appear at that level.
I also kept bidding for the stock to try and get a better fill and build into the position, but could not.
I also kept bidding for the stock to try and get a better fill and build into the position, but could not.
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