GRVY Anatomy of a Day Trade

[AussieTrader]

GRVY had news today regarding the sale of controlling interest of the CEO shares to a different company. I picked up the stock moving on my intrday movers screener as it approached $8. Checke of the daily chart showed a 1 day red candle between $8 and $9 so as momo was there seemed like a good entry. Following 5 min intrday chart stock moved nicely through that 'gap' with vol $10 became the logical target. Exit bells started to ring once it got a huge move in 5 mins from $10 to $11.20 as more momo crowd poured in.

NEWS:
(RTTNews) - Tuesday morning, Gravity Co. Ltd. (GRVY) said its controlling
shareholder and a member of board of directors, Jung Ryool Kim, sold all of the
company's shares to EZER Inc., a Japanese corp.

The sale is following a stock purchase agreement by and among the sellers and
EZER dated August 30, 2005. The sellers include Jung Ryool Kim, Ji Young Kim,
Young Joon Kim and Ji Yoon Kim. Immediately prior to the sale, the sellers owned
3,640,619 shares, or 52.4%, of our outstanding common stock.

Kim intends to resign from the company's board of directors before its
extraordinary shareholders' meeting, which would be held on September 21, 2005.

The company expects both EZER and the sellers to file Schedule 13Ds with the
U.S. Securities and Exchange Commission, with detailed descriptions of the terms
of this transaction.

Intraday Chart: Look at how the move stays above the 9ema line (blue) all the way before accelerating away from it on the spike to $11. I use the 9ema on this 5 min chart to guide a day trade.

[texdc]

Nice DD and TA!   

[Tirebldr]

applaude great tutorial.......thanks saffey