Full Triangle Completed. 1/2 Entry At The Close

Earnings report wasn't that bad really, just disappointing. The stock was already up 1000% at one point, and Bank Of Montreal owned 30% of the shares back in December 2017.

I initially flirted with the idea of buying on Monday, or near the 78% line near the March/April consolidation area for $8.00ish, but decided against it due to the extent of the sell off. I also considered the fact that 81% of the shares were owned by institutions, who were up significantly.

You can see buyers attempt to accumulate on Sept.11th, but they got crushed, just like I suspected

I'm buying the close today, with the intention of holding the other half in case it goes lower so I can either bump out, or get a better average. Whether i fill the other 1/2 on the way up depends on the price action and volume

This is a swing trade, not a long term hold

Kommentera:

Sold for $8.00. Slept in today or else I probably would have sold the uptick in the morning