These share are oversold on the longer timeframe and could easily see a return to previous levels, entering with a cost basis of $1.276, looking to collect a little over 30% on the trade shown on the chart. Long from $1.28, looking to actively trail position into profit and trim in the event of failure.
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Clearly FED rate policy changes held this back along with recent headlines.
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And now they look like geniuses for pulling out of the Florida markets.
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Gonna go ahead and close EARLY(before $1.67) and IN Profit(over &1.28 entry) ahead of the CPI print tomorrow. Possible to leave money on the table here but there was a ton of drawdown in this idea for those that didnt wait to enter. Again could see it continue to run up in the next sessions but taking liquidity on a day like today and then waiting for a pullback is the technically safer move when considering exposure. Not Financial Advice!!
Trade closed manually:
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so choosing to gamble and hold through CPI (technically not a good idea) would have worked out this time and the original idea worked well. NOT FINANCIAL ADVICE!
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Today is a perfect example of what can happen in the blink of an eye. Happy to have closed at my target.
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And the original bracket with perameters for entry with tp/sl would have work twice during the period currently on the chart
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something tells me that weekly volume has it's own story to tell.... like insiders jumping ship. While I haven't looked into the filings, I would only think that a short squeeze took place OR insiders jumped out to produce the ALL-TIME record high weekly volume in this ticker.... either way this ship has officially sailed for my trip ;)
NOT FINANCIAL ADVICE
NOT FINANCIAL ADVICE