Performance metrics and trade details for WOLF breakout.
Wolfspeed reported strong earnings on August 18, 2022, amid a bear market.
Entering with a 1-minute ORB and risking 4.8% (below the 5.3% ADR) provided an opportunity. However, in the bearish environment, the stock lacked follow-through. Exiting upon spotting the "Dark Cloud" top signal resulted in a modest 7.4% gain.
Considering we are risking near 5%, this result is not great, but we could have sold earlier into strength and make a 10%+, which makes it a 2R trade.
More to study.
