Held over weekend as stock held up at the highs at 4pm close. Monitored all week as stock went through the 7 step pattern. Trade idea was to wait for b/o>$8.35 MR and short squeeze as shorts were trapped. On Friday b/o>$8.35 but could not hold therefore trade idea no longer valid as shorts soaking up excess liquidity from Longs selling. Was a great exercise in understanding how a share can be held over mutliple days provided it continues to hold at or above highs in prep for a short squeeze.
Just needed to b/o> $7.70 then no overhead resistance should have just stayed in first trade.
No entry pattern entered trade just before double top. Could not break resistance at $7.60. Tested it twice and faded. Low volume 4M traded not a good choice
Took this on a swing, volume was picking up. thought it could continue, but I was wrong. No jumping in until volume at a minimum matches float.
Trying out the slow-moving ones this time. Got out because boss called me to attention. Let's see afterwards if I am right about the trend.
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