Here’s One Way To Wait For A Bounce
TASER
International (TASR) gapped up on the news there was no significant
cardiac dysrhythmias in 24 healthy human subjects immediately following an
electrical exposure from the TASER X26. The stock opened above its 50-day EMA,
but TASR immediately faced a resistance line to overcome. I decided to wait for
a pullback.
10:11:17 (from TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
TASR | buy stop at 12.01 | pullback (5-min.) | 11.91 | 12.18 | 11.91 |
TK |
Now, let’s look at the 5-minute
chart. TASR gapped above the upper Bollinger Band, and immediately sellers
stepped in. The issue attempted to bounce off the upper band, but it was not
successful. At 10:00 AM, TASR touched the 50% retracement level, and the very
next bar was a bullish reversal. I placed a buy stop just above 12.
10:18:49
Follow up on TASR
Move stop to breakeven. Sell half. Â
If you have questions, feel free to
mail them to me.