I highly recommend watching @Investorslive Textboook Trading to beginners and intermediates as well to educate yourself about momentum trading
And the obvious disclaimer - I am not a trading/investment adviser so please be smart and consult a certified financial adviser before making any investment decisions
$INPH Trade Recap:
$INPH popped on my scanner once it hit $100k vol and a $1 cross; I quickly checked the float (using my float checker app ) and my inbox, and found it was an uncompensated pump.
The combination of the early volume, the lowish float (under 10M) and the $1 cross were enough of an incentive to buy around 1.05 (with 1 stop)
I sold some in the high 1.10s and rest at 1.25+ and 1.30s
I then re-bought at roughly my original entry price, this time half a position and sold into the subsequent pop
From that point, given it was up on a 3rd tier promotional campaign, and volume was on the decline, I decided to start shorting into pops; I was careful NOT to just hit the 1.10 bid hard, since they were absorbing a lot there, and was mindful it could easily pop and potentially even test new highs
However, even though 1.10 served as very clear support and I was hoping/expecting a $PTN like collapse eventually (traded similarly around support line, and finally snapped in the final hour)

However, even though 1.10 served as very clear support and I was hoping/expecting a $PTN like collapse eventually (traded similarly around support line, and finally snapped in the final hour)

1.10 eventually cracked, but it didn't drop fast as I was expecting, instead 1.05 acted as support. It was tested once, twice, and by the third time it held it was clear to me it wasn't going to breakdown that day, so I covered rest of the position. Definitely top watch for collapse on Monday - but shorting only into pops!
This was my trade with entries/exits; note how important it was to cover when support holds (it eventually closed 1.20)






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