ASAN - Episodic Pivot - 2021-09-02

Asana reported strong earnings, leading to a 14% gap up. The stock initially sold off in the first 15 minutes, making an ORH entry impossible.

However, buyers regained control, and the stock broke above the anchored VWAP, offering a solid entry. Using LoD as a stop results in a 4.2% risk, well within the 5.5% ADR.

The trade was exited after the stock broke below the upper trendline, coinciding with a bearish engulfing pattern after two weeks, securing a 40% gain.