Monday, August 25, 2014

Closed: HIMX

So HIMX pulled the pop and drop on day 2 of the breakout.  I sold 30% of my position on the pop at 8.50  and I sold out the remainder as it faded at 8.16

My breakout anticipation entry worked very well as it popped from consolidation as soon as the 10MA hit the pice.  At the time, I commented that I thought the breakout would have been stronger had it not started from an overbought stochastic and RSI reading.  I was somewhat surprised by the strength of the initial move given this dynamic. Ultimately, the overbought stochastic caught up with HIMX and the stock fell.  I was fortunate enough to sell a portion on the pop. 

Pull backs to the 10 can be bought with the sweet spot between the 10-13.   

Entry: 7.76
Exit 1: 8.50
Exit 2: 8.16  .9 R

No comments:

Post a Comment