Euro Tech Holdings $CLWT
08/10/2022 07:29 amLONGProfit: $0.115/share
CLWT gapped up premarket on positive news. The two previous days where red with a fade back to the SMA. Since there was such a recent down move, the theory was that there would be short positions that need to cover so that would also act as a catalyst in addition to the company news. The stock was consolidating on lower volume near VWAP and just below at the 2.00 support level. I took entries as it consolidated in preparation for a breakout over VWAP. Once it broke out I exited near previous resistance near 2.15. In hindsight it would have been better to sell some of the position and hold the rest for the opening drive.
Shares: 5-10milIndustry: TradingCatalyst: Positive Company NewsATR: 0.10 - 0.25Time Frame: 1 Minute
Entry Above VWAPEntry Below VWAPEntry PremarketEntry Above R3
Exit Above VWAPRSI >= 70Exit Premarket