Biotech stocks were showing a lot of strength today. I went long as higher lows and a flattop were forming around the 64.70 price resistance area. I doubled up as the coil was getting tighter. The breakout was not what I had hoped and I sold off my shares as the EMAs were broken. Afterwards the stock steadily laboured upwards and I probably could have re-entered for a long but I was looking for a quicker breakout to scale out of. This stock will be on watch for tomorrow as it is right along a key resistance level.
Execution detail:
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