MAGS had a strong gap to the upside. It was pushing the $6 resistance and forming a flag intraday. I waited for it to form higher lows and purchased with anticipation of a breakout. It did spike to new highs, but couldn't hold the breakout level. If I was being aggressive I would have sold just over $6 because it should have support and strong follow through. I am happy with the play it just didnt work, but I managed it well.
Execution detail:
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