I would have obviously liked to catch this one earlier but I wasn't watching it close enough. The stock gapped up and went red at the open. It found support at 44.00 and made a lower high at 45.00. The ideal entry would be at 46.00 as the EMAs were curling upwards. I entered pretty late into the rally. I went long 100 shares at 48.93 and 100 at 48.80. The stock had a pretty wide spread so I was taking quite a bit of risk on this trade. I had a stop placed at 48.10. I scaled out 50 shares at 49.88, 50 at 49.87, and the last 100 at 49.40. Luckily just before it made a deeper pull back to 48.00. The stock was have trouble getting over 50.20 level today, I will have this one on watch for tomorrow to see if it can break above.
Execution detail:
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