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foldelinio_BOWS
Madscan Volume scanner.
One of the rumor spikes again. I still don't know, how to tackle them, but I needed skip in the stock. So I traded miniscule size with 2-3cts stops off of the tape. When I saw a big order hitting bids, I tried to make a small swing out of it with risk over 45.80$, but I got stopped out.
This is not a serious trade, but a test for further research. Tape acted very weird and totally unnatural. It was a buyout - rumor and usually I'd expect a spike, shorts get squeezed, first pullback, then test of the spike high and then either a sell off or a consolidation below/around spike high. This stock had the first pullback, a supporting bid 5cts below spike high and besides a few bot flushes, it traded up penny by penny by penny. No pullbacks, just no natural buying and selling.
I have to keep this stock on my watchlist to see, what happens next. Buyout rumor ("private equity firms interested")/bullshit fluff --> algo mark up --> ?
Secondary offering perhaps?
Execution detail:
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