December 12, 2017: [stock_quote symbol=”TGC” show=”name” decimals=”2″ number_format=”sd” template=”” raw=”0″ class=”quote”] caught my eye on 04 Dec when the daily RSI(14) crossed above 70, it hit a day change of 56% and it moved over 9M shares in volume. Typically, I like to get in a swing trade like $TGC when the Upper Bollinger Band intersects the daily candle.
However, in this instance $TGC also crossed the 200-day SMA on 04 Dec. Typically, when a stock crosses the 200-day SMA it will retrace all the way back down to the 200-day SMA before bouncing off and making another strong move upwards. Profits could have been better on this trade but it still made for a decent swing trade.
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