Stock Selection Information
Stock had it´s earning released yesterday.
Watch List Reason - ybefore (earnings yesterday before the market opened - 2nd day)
Pre-Market Volume - N/A
Trading Plan - Long > 58.50
Management
Entry Setup used: Support trade
Trading Comments
The offers could not hold below 58.50 and it could not trade much below this level. Latter my tape reading skills help to identify the 58.54 as a support level were a buyer held the bid. Below that level was my stop.
CCI divergence aid to confirm a potential support and the entry and also a place to take some profits.
CCI divergence aid to confirm a potential support and the entry and also a place to take some profits.
Evaluation
The trade was perfectly executed. My best trade of the day. I also manage to add to the position at the right timing. Since the market was in a more sideways day, I took the profits close to the 58.75 level. If the market was moving (either way) I´d probably have held the position a little longer.
My failure: when it got back to that level again the offers were quickly taken and there was another entry possible with the same strategy, but I did not take it.
My failure: when it got back to that level again the offers were quickly taken and there was another entry possible with the same strategy, but I did not take it.
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