DUSA was a gapper from the Briefing.com gapper list. It consolidated the gap with a 25% retracement of yesterday's low to the ORH. The 3rd and 4th bars were NR and allowed for a low risk base break entry with good support from the rising 5 period EMA. The entry bar easily took out the ORH. I took a partial at the 38% Fibonacci extension and exit the balance as price approached the 62% extension.Thursday, May 17, 2007
Dummy Trade of the Day - DUSA Pharmaceuticals, Inc. (Public, NASDAQ:DUSA)
DUSA was a gapper from the Briefing.com gapper list. It consolidated the gap with a 25% retracement of yesterday's low to the ORH. The 3rd and 4th bars were NR and allowed for a low risk base break entry with good support from the rising 5 period EMA. The entry bar easily took out the ORH. I took a partial at the 38% Fibonacci extension and exit the balance as price approached the 62% extension.
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