On a daily chart - CEMP has been riding 20 SMA in an uptrend and also hitting the price resistance around $28.40ish a few times on 1/29, 1/30, and 2/2. it finished strong the previous day with the big price move up staying above 20 SMA.
Intraday (5-min) - It had a quick 2 candle-sell of, a big run to $28.80 and a low volume pullback to 9 EMA. I entered as a first pullback buy at $28.39, exit at $28.60ish.
Stop loss at $28.29 right under the vwap and 9 EMA, and target at previous HOD at $28.80.
So, basically I was risking 10c with the potential to make 40c (r/r was 1:4)
My exit was on a second red candle because my target was not reached.
I tried to play a few more pullbacks to MA before lunch time but nothing significant happened.
I stayed positive!
Execution detail:
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!