I have been watching this stock for about 2 days and anticipated it to climb higher the business day before its Q2 Earnings release. Was I 100% sure it would increase? Absolutely NOT! Opening @ a price of $4.18 this beauty took a 75% leap by the end of its closing day and more than 100%+ during market open. That's double your investment. Luckily I was able to spot a bullish movement around the $5 dollar price range. Jumping from $4.18 to $4.98 within the first 15 minutes of market open shows heavy selling pressure around the $5 mark. In fact this point on the chart in the previous days is a BIG Buying Zone but as you can see sellers came in and brought the price down to $4.68 a share. Yes this stock is very volatile but with the great news about the company's FDA approval and the Q2 earnings release along with various technical indicators this stock showed a powerful upward trending signal. And that it did!
From the chart below you can see that I Longed 333 shares @ $5.01 and covered all my position @ $5.15 within 2 minutes! My intention was to however sell only half my position at $5.15 to lock in at least half my 'R' (R = max amount willing to lose on trade). Since I had a previous order in place for a stop limit to protect me from any major swings my order wasn't being accepted. Had I sold half at 2xR and let the remaining ride this could have been a big day since the stock did climb to $9 per share from a $4.20 Open the same day!
Always, Always, Always make sure you know your 3 E's. Entry, Exit, Escape.
"these are just my opinions and not a buy or sell recommendation. i hold no position in this company nor are they paying me to post this".
entry late, good play, but remember! entry is KEY, you exited early! remember to keep 1/4 of your position because you never know what will happen to the stock! this went all the way to $8.30 that day
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