ENOC has been fading the last few days after being up a lot. With the overall market down 2 % yesterday and the media is talking about a possible bear market, I took that as my advantage and shorted this stock that has been up a lot. ENOC was also red on the day when I shorted which minimized my risk for a big spike. Shorted at $4.80 and held my position overnight.
Today ENOC had a morning panic to $4.60 but the next support level was at $4.40ish and the market was red today too, so I kept my position. Through the day it kept fading but sure enough it held the support level at $4.40ish so I covered at $4.44 with a 7.50 % gain.
3 out of 4 stocks follow the market and this was the case.
Today ENOC had a morning panic to $4.60 but the next support level was at $4.40ish and the market was red today too, so I kept my position. Through the day it kept fading but sure enough it held the support level at $4.40ish so I covered at $4.44 with a 7.50 % gain.
3 out of 4 stocks follow the market and this was the case.