I thought this stock had momentum midday (9A PST) to begin heading back up to at least $19 and was heading straight through resistance at $18.40. I waited for a retest of new support and saw a bull flag forming. Got in around $18.44 with a stop around $18.38. The stock broke out and then spiked up into the $18.60 ether in what is now a clear exhaustion move. My stop was not triggered and I had to wait until the stock came back up and hit the eject button around $18.33. At the time I was actively managing 3 other positions (D, RAX, & COIN)
So... what I learned today I need to work on managing multiple positions. Looking back over this trade there was absolutely no probably reason that this stock was going to erase today's pullback and hit my $19 target. The fact that the stock was able keep it's day low at the same level as the previous day's low and close above the previous day's low is a bullish sign. A more probable trade would have been to buy around $18.10, the max power of the bears.
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