$TASR Trade Review - Trading Pullbacks | Bulls on Wall Street

$TASR Trade Review – Trading Pullbacks

Here is a bounce trade that we did on $TASR yesterday.  This is one of my favorite types of setups and one of the easiest to manage.  You take a momentum stock that had a huge thrust higher and on its first sizable pullback to the 20 day moving average (DMA) we start watching it for a potential bounce.  Now that we have the idea that we want to hit this stock, all we need to do is align it on all timeframes to catch the right entry.

We entered this stock at $14.23 with 2000 shares and proceeded to scale out of the position at $14.44 , $14.64 and the last batch at $14.79.

I give myself a B+ on the trade. I really liked my entry; I originally had a $15 target on it so I did leave a bit of money on the table.  I also probably sold the first 1k shares too soon, as I didn’t necessarily have a reason to sell it in that area.

 

 

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