BONT had a big day, jumping from .58 - 1.30 today, +97%! This jump is unsustainable and I will be entering short at $1.30. This jump was off headline news of being approved for approval of a new issue of Junk bonds to finance the holiday season.
Here are my TP levels. TP 1: 35% of trade @ $1.10 TP 2: 55% of position at $1 TP 3: Hold 10% until end of day, if price is closing above $1, exit trade, if under, hold overnight.
SL: 1.5
RSI is starting to show overbought signals and MACD showing a convergence at the 1.22 level, which could indicate a drawback.
Good luck, let's make some money.
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Broke through MA 30 and 60, moving SL to entry.
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Changed mind about moving SL to entry, seeing resistance but I still think this will play out well as we go into the late hours of trading this afternoon.