Entry comments: Buy pre-market = $5.83 —> filled @$5.81 Stop = $5.80 Target = $6.25 —> 7% gain Thought is there will be a surge of buyers on the news at market open. There could also be bag holders selling into the large gain, as it has a downtrending chart of the past year. Stock channeled between $5.81 - $5.82 before dropping to channel between $5.80 - $5.81
Exit comments: Stock just moved sideways. Out with only the loss on the commissions.
Looking at the daily chart, I saw that IMDZ had a previous support level at $1.25 prior to its upward momentum. Ever since the first red day, it continued to look weak so I decided to short at the end of the day and swing it. After a few days, I decided to buy to cover when I thought momentum was shifting. Was able to lock in some gains, but missed out as IMDZ hit NLOD at $1.14 two days later. However, I am still proud of this trade.
IMDZ has been GREEN 7 days straight and I decided to short after the first RED day. Shorted half of my position at $1.93 and the other half at $2.06. I was risking off of previous HOD at $2.13. As the day progressed, it slowly downtrended and lost all its gains. Around the end of the day, I was looking at $55 profit. IMDZ had great potential to breakdown even further so I decided to hold overnight and bought to cover the next day as it began showing some strength. First 3-digit profit!!!
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