Monday, May 30^th - Reviewing SORL

 

Entry comment and analysis: Saw this earning winners from 15 days ago in chatroom. Seemed to spike on pretty strong volume at 10AM. I got in at 9.58 but the top turned out to be 9.74. I could have made 20c/share but I was aiming for 40c/share, wanting the stock to break 10. As a result, I held all day, lowering my initial risk from 9.43 to 9.20 because I had a small position, I thought that it wasn’t bad to risk losing a couple more $ just because I wanted to be right.

 

Exit comment and auto-feedback: Even though earnings winners plays are weird and can spike late, I tried to hold it seeing that it had a lot of resistance in the 9.40, which was my risk level. I was hoping for an afternoon up trend leading into the market close, and potentially hold it overnight but it cracked around 330PM and I had to cut my losses quickly.

 

Conclusion:

-       I only lost 4% which is good, but I should have followed my initial plan considering that I bought it at such a high price.

-       I will keep it in my watchlist.

-       For each watchlist Tim posts, I will run scenarios for each trade and stick to the plans elaborated from those scenarios.

 

 

 

 

SORL
$ 9,58
60
$ 9,43
$ 10,00
$ 2,8
$ 9,58
$ 9,20
$ -9,00
$ -22,80
-4%

 

Price/share

# shares

Support/Resistance

Target Price

Risk/Reward Ratio

Entry Price

Exit Price

Loss at Risk Level

$ Gain/Loss

% Gain/Loss