Yesterday, I pointed out this flag pattern forming on BGS on the 65m timeframe. BGS had broken out and had been consolidating tightly. This was a potential short squeeze candidate as BGS has a 26% short interest. I was looking at buying this stock above 19.30 and the trade triggered right at the open today.
Entry - 19.49
Stop Loss - 18.48
Target - 25
After buying BGS this morning, BGS had an nice run all day and closed near HOD. I moved up my stop loss at the close to 19.40, right under the gap up.
Entry - 19.49
Stop Loss - 18.48
Target - 25
After buying BGS this morning, BGS had an nice run all day and closed near HOD. I moved up my stop loss at the close to 19.40, right under the gap up.
Trade closed: stop reached:
I had moved my stop loss to 19.40 (under the gap) and got stopped out today.