I made the following trades yesterday.
Trade: 800 shares of MAS at $35.3
Why I entered: Strong accumulation right before and after the July breakout. It drove the stock to a multi year high at $37.38. The stock has pullbacked on light volume to the lower bound of the breakout bar and appeared to have found support at $35. Stochastics has been oversold and started to rise.
TM (Trade management): Stop loss placed just below 50 sma at $34.4, target at recent high $37.3, reward to risk around 2.2.
I was stopped out of RMBS at $13.54 for a loss of $1014.
TM (Trade management): Stop loss placed just below 50 sma at $34.4, target at recent high $37.3, reward to risk around 2.2.
I was stopped out of RMBS at $13.54 for a loss of $1014.
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