VITA - MYH Breakout - Momentum PLAY

VITA - MYH Breakout - Momentum PLAY. +33% in 3 days, -3% in 6 days

VITA$

I bought $VITA shares EOD (bid at Pre-Run-off) at 2.99 pesos. Technically it's not yet a breakout because it didn't close above 3 pesos but I still chose to BUY it. Why?

Reasons for Buying:

1. Price closed near MYH of 3 pesos with a Momentum Candle. Solid closing. 
2. Price > EMA20 > MA50 > MA100 (AOTS)
3. Volume Spike
4. One of the most active stock of the day

The above list is enough already to convinced me that this is tradable.

$VITA Daily Chart 04/17/2018 Closing

Daily Chart - Zoomed in - Momentum

Port snap as of Apr 17, 2018 - the day I bought $VITA

Weekly Chart - Zoomed out - About to break MYH of 3 pesos

The next resistance here is 4 pesos (whole number) which is also near the Fib Golden ratio (1.618%). My stoploss here is at 2.65 (Apr17 OPEN) and the TP1 at 4 pesos which gave me R:R ratio of 3.

As usual, part of my risk management, the number of shares I bought is computed, enough for me risk only 2% of my port in case I had to cut at 2.6x.

R:R Ratio

Set TP using Fib retacement tool

I set GTC Sell (half) at 4 pesos on the next day. On the 3rd day, SOLD HALF! Easy +33%. Feeling genius tuloy. haha.  The price closed at 3.6 with that ugly candle. At dahil feeling genius, I ignore that SOR (sign of reversal, may sell-off Volume pa)!

I haven't had the chance to SELL my remaining shares on the 4th day (Apr 20). I was in a company team building that time and the huge sell-off happened near the closing. Medyo naging confident din ako masyado. I have a chance to sell it on Monday Open pero di ko sinell. Anyare? haha nasold ko pa sya on the 6th day with a -3% loss. Di ko tuloy na-maximize yung gain.

VITA - MYH Breakout - 6 day PLAY

Lesson Learned: For Momentum plays, BUY on Momentum, SELL on first sign of weakness!

<update 04/27/18>

Eto nga pala yung reason why I still hold my remaining shares until the 6th day.

https://www.investagrams.com/Post/andrewtm/327774/-1