Trying the SWING Trading.
Not ALL Merging News are Good.
($78.39) Net LOSS - $WPCS - Long Position Size 200
Entry: Green day on a new low with a great spike in the morning. Bought @ 1.24 minutes before the close. Speculating the price will gap up next day.
It did not gap up or spike on the next day, it even went down by 0.10/ share. But i hold it thinking it will go up with the news the it has a merge plan with Drop Car. So, i can of hoping to see good price action in the next few days.
Exit: Price is way down, and it even spike near my entry. Then, SEC filling came in. So, i read thru it. I spotted WPCS will give 1.64 : 1 share to drop car, and will have a reverse split later once the merge is complete before the year ends. I went straight to sell my stocks, the price went down already and I saw couple of big sellers ahead of me. Then, just cut my losses as fast as i could. I sold it with no hesitation. The price as i'm writing this one is way below my exit price.