This low-priced stock is tearing up by more than 40% after earnings.


I found it from CUE INSIGHT.

Its industry is strong.

Excellent valuation and very rapid earnings growth in the latest quarter.

After earnings, it went up by more than 45% today with bullish Pressure and it cleared the daily Watermark resistance.

It may be taken as a Breakout of Watermark and also what people may call a buyable gap-up trade.

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I stopped out of $RRD following discipline at the pre-planned stop loss level.

1) I had shared RRD as a possible buyable gap-up / breakout above the Watermark resistance trade. After I shared the post, in the last 10-20 mins of the day the stock pulled back, resulting in an upper-tail in the daily chart. Looking at that, CUE guideline is to wait for the next day and try to take a trade using CUE Fine Tune real-time chart. If one did that, one would not enter the next day as the price did not break out of Early Range High.

However, I was already in the trade before the market close on that day (due to my timezone difference, sometimes, I take a trade without waiting for the market close - though that is not the CUE technique).

2) I had set a stop for the long position just below the low of the gap-up day (entry day). Today the stop was hit and I exited the trade with a small loss - as per plan.

I exited the trade while keeping in mind that taking a loss following the plan does not hurt the overall trading result.

On the other hand, not following a plan (or worse, not having a clear plan) hurts the trading account.

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