Trade Review VELT, earning play. | Bulls on Wall Street

Trade Review VELT, earning play.

VELT is a name I love to trade. For those who knows me in the chat should recall ,we have traded VELT in 8’s and 10’s in the past with decent
profit. So I had an old random alert setup for VELT  over 200 SMA 10.44.
Alert triggered this morning as VELT had earning and stock a had break away  gap over that 200 SMA.Now I am not going to hit the Buy button right away at 11 or 11.33 right at the
open! Stock has no intraday base. So I waited and waited until it sets up.Stock hits open high at 11.33. Low volume pullback to rising 9 EMA  as SPY was making lower lows, and its starts to base above 9 EMA/5 min. I wanted to buy over 11.07 but went ahead and hit the buy at 11 anyway with stop below 10.89 and look how the rest is history.
We sold 11.30 and 12. Still holding some position as the stock closed high of the day.

 

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