BMRA Support Entry

Written By Denis Blig

I was filled with 1K shares on support. It dropped below about 3 cents and I held to see if it will reclaim and reverse. It tried to reverse but it was not very convincing. It had a lower high at which point I sold my entire position into that high. It dropped again and tested support. It bounced off and spiked about 40 cents from the support before breaking the support and fading the rest of the day. There was news on the stock which is why I considered the trade. Walmart signed a general supplier agreement with the company. The stock had volume of 15 million by the end of the day and traded about 4 million come market open.

KEY POINTS

  • Volume 15M / Shares 12M / Market Cap 42M

  • ENTRY 3.55

  • EXIT 3.67

  • 1K SHARES

  • PROFIT $113

Denis Blig
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