To The Moon

I have posted an article on whether $iBio(IBIO)$ will continue to show strength for 21 Feb trading day.

IBIO, INC. (IBIO) - More strength today (21 Feb)?

I have managed to gain some profit from trading IBIO, INC. (IBIO) on 21 Feb. My model has predicted a BUY signal for it yesterday.

Let me share how I was trading it using VWAP, Price and Volume with guidance from my model prediction.

IBIO at Pre-Market (1 hour before actual session)

IBIO was trading above the VWAP from 8:30hrs(US) onwards, this is where I believe that there will be some strength coming for this stock.

Volume (especially BUY) start to build up. It went on to open at $1.60 in actual session. I did not enter during pre-market as I would like to see if the trend continue into actual session.

IBIO at Actual Session (1D chart)

Using the one day chart, I can see that it was trading above VWAP briefly only, but there is a good volume build up. I decided to wait and see how the price movement goes. I decided to take a look at the 5 min chart.

IBIO at Actual Session (5min chart)

IBIO was trading below VWAP until around 13:30hrs(US), when it has a sudden gap up, but it came down very fast, but still trading above VWAP, hence I decided to enter slightly above VWAP @ $1.63.

Shortly after that, it start to trade below VWAP, trying to move up, but was not successful.

I decided to monitor the volume using MAVOL, and decided to take a 10 cents profit. and managed to exit at $1.74 at around 10.45hrs (US).

Summary

This trade was a quick scalp trade which I wanted to test my belief; I am glad that it has turned out well despite market was down with all indexes suffer more than 2% losses.

It was a good ~6% gain.

@TigerStars appreciate your support! Thanks in advance for your support!

Do share your comments and like this post if you find it useful in your trading plan or strategy.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Technical Analysis, and there are many other indicators that need to be look at together. (e.g., Price Action, Volume, etc.).