CETX and CNAT example of fishhook setup

I closed my half position on CETX at 6.37. There is a clear wedge with volume decreasing, then gap up due to the earning release. This is a good growth stock. It did not fly on the earning day and went down to 5.25. At that time, I wondered if I was wrong and if I should close my position. I thought not and wanted to add some more position since I was pleased with the earning number. However, I did not add my position. Yesterday the stock went low again to test 5.3 area then flied during today's session. This is an example of SOS's fishhook setup on the 15/30/60 minutes charts. I wish to see this stock go up to 7 area tomorrow.

I think CETX has bring future. I will buy low and keep this stock in my long term long list in year 2017.

Another example is CNAT. It went up due to news on collaboration with Novartis. I bought at 4.4 and sold at 4.9 on the days of news. Then in the next 2 days, the stock pulled down for two days, then flied last Friday and today. This is another example to show the price momentum of fishhook setup. I did not trade the rebound. I regret missing the run. I should risk a small position here. I think the reason I did not buy is I wished to buy at a low price at 4. Next time, when having such set up in future, risk a small position, the rewards is tremendous. The stop is at the low.

there are some range expansion upside setup which is not reliable long setup. Most of them are rebound from some support area. The upside momentum is short. When reaching some area, the old buyer who trapped will sell.

Good setup I missed. CF and OTIV. The reason OTIV is a good setup is due to the volume surge on the breakout bar yesterday. Today OTIV has follow through today. It may go to the 1.8 area tomorrow. There should be some imagination.

I saw CF 3 trading session ago since it had a range expansion. Since the volume is not significant, I passed it. Last Friday and today are good days for CF.