PAPER TRADE (LOSS)

• Setup: -------------------------------------------------------------------- Daily Range Break
• Entry: --------------------------------------------------------------------- $2.95
• Shares: ------------------------------------------------------------------- 1000
• Stop: ---------------------------------------------------------------------- $2.89
• T1: ------------------------------------------------------------------------- $3.15
• T2: ------------------------------------------------------------------------- $3.50
• Reward:Risk Ratio (T1): -------------------------------------------- 3.33:1
• Exit: ----------------------------------------------------------------------- $2.93

• Profit/(Loss) With Commission: -------------------------------- ($33.00)

• Details:
  Daily range break, 1000 shares. Bought this in anticipation of the break of the 50dma on the daily at $2.97. I should have noted though that the stock had been up for the last three days in a row (almost 20%), because it really needs to settle under $3 for a couple days before this breakout will be successful. I gave it a tight stop of $2.89 to start with a target of $3.10 and then $3.50, but moved the stop to $2.93 after it stabilized a bit. The breakout failed right at $2.99 which is a big resistance spot. I will be watching this one for a breakout sometime in the next week or so.