Stock Selection Information
No relevant news on the stock. It had it´s earnings released on Friday morning or Thursday afternoon and it was in play (2nd day play). Stock had a bad reaction to the released, but recovered during the day. Today I was going for the follow up on that recovery.
Watch List Reason - 2nd day play
Pre-Market Volume - None
Trading Plan - Go long above 64.00
Management
Entry Setup used: Open range break up
Trading Comments
The level I was watching was 64.00. Market test it twice before actually moving. Could see some buyers on the tape and the Open Range formation I like to trade. As it was breaking the range up, I joined the buyers. It took 2 trades before the stock start moving up.
Market was overall strong, which helps long position. Reading which way it was moving and if it was following the expected scenario helped to find the entry/exit spots.
Market was overall strong, which helps long position. Reading which way it was moving and if it was following the expected scenario helped to find the entry/exit spots.
Evaluation
It was a good trade and well managed. The problem after that was to stick to the stock (that was moving higher) and take the other trade entries it was giving me. Besides that, it was a good trade.
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