ACB Trade on Apr 8, 2024 08:34 from Rad_Trader: Tradervue User Stock Trades.

Trade Review

Name of the Play and Brief Description: First Green Day Bounce looking for the stock to break trend of the red days on the daily chart and have shorts cover and dip buyers come in having a first green day

What's the Macro: Trend change after two red days, no news, just a clean chart

Scanning (what was it doing on the scan): It was hovering around the R/G level while also breaking the downtrend line on the 1hr chart, was trading light volume, but had buyers on the lvl 2 and tape

Intraday Fundamentals: No new news, has been a grinder for sometime since it's reverse split. In the weed sector which has been heating up.

Technical Analysis: Breaking the downtrend in premarket while hovering around the support level of $6.46 which acted as a very clear support two days ago, proved to hold again at the open.

Insert intraday chart here with support and resistance lines from daily and premarket:

How Will I Improve: Have more size, and wait for a better entry rather than buying the trend break, there will usually be a pull or pullback at some point especially at open.

What Did I learn: Be a little more patient, and look for reentries if structure is still there.

Did I stick to my plan/risk or move my risk mid trade: Yes, I did adjust my risk to about 1% on my last two shares

Target: Mid $7s and ideally $10 but a little far fetched on bigger float stock

Stop: $6.10