Long MREO @3.865--oversold
Updated
Standard oversold trade - buy lots as long as it remains oversold and sell each lot as it becomes overbought AND profitable.
Low price stocks like this are ideal for this type of trade because they tend to move more on a % basis than higher priced stocks. I'll post mmore data later but the chart tells you it's gonna be pretty good.
Will update as I add or close lots. Have a nice weekend everyone!
Low price stocks like this are ideal for this type of trade because they tend to move more on a % basis than higher priced stocks. I'll post mmore data later but the chart tells you it's gonna be pretty good.
Will update as I add or close lots. Have a nice weekend everyone!
Note
Closed my position in MREO this morning at 4.17 for a +7.9% return in a few minutes more than 2 trading days.Note
Summary (for my accounting purposes)
1 wins 0 losses
individual trade returns +7.9%
Avg gain per lot = 7.9%
Avg holding period = 3 trading days
Per lot per day held annualized return = +663.6%
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