I opened Mark at 5.23 on this weekly breakout. The volume was very impressive. Float is 7 mill.
I felt this is worth a go, as the battle lines clearly drawn. I don't think this is a one and done type of move. Interestingly, nearly all the volume came in at the during the second half hour of trading. I'm not sure what that means.
Added RESN:
I doubled my RESN position on the pull back, which turned out to be a great place to add:
Stop I was stopped out a VDSI on the long side, but I used a double stop which flipped me to net short:
The failure to make a new high is not a good sign for this nor was today's bearish reversal. I've noticed a lot of leading stocks are failing b/o and then fading. This suggests that we are probably gearing up for a bearish move down.
Long Trade:
Entry: 29.04
Exit 1: 28.62
Exit 2: 27.21
Short Trade:
Entry: 27.21
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