We traded ENOC today in the chat room. ENOC ,one of those company which has a small 25 million float with over 9% short interest. The stock came to my attention on last Thursday as it was trying to break out of a down trend line. In the past the stock had decent runs whenever it broke out of that downtrend line.See the arrow on the daily chart.
So on Friday it had a big run from 11.50 to day high of 12.86 as it went too fast from my 12 alert for me to catch it. Monday it tried to go again but failed at 13 and printed an inside day .So I set an alert for 13 which was Fridays high whenever it decides to go.
Let’s see a 15 minute chart to see how it sets up today.
- Beautiful tight flag under the alert 13 as rising 9 EMA catches up.
- Bought the stock at 12.90 in anticipation that it will hit out 13 alert. Our stop was right below the flag range 12.80. Nice and tight.
- Stock explodes higher making a day of 15.89. That’s 23% day trade gains!
- We added more at 15 for quick run to 15.40.
Email me thenyctrader@gmail.com if you would like to trade with us or have any questions.
