Note: This isn't really a playbook play; but more a note about how these small caps with volume behave. I have a tendency to overreact to new highs on stocks so it's good to get this behaviour down on paper and watch aggressively for it.
On this stock it may not be part of a playbook play; however it can easily be used to get a really nice entry on a bloated small cap stock.
Strategy Description: There are a lot of games on these float rotation stocks, and this is probably the biggest one where a big seller will use a pop to new highs to offload a lot of inventory. Basically just a false break except that it's extremely common on these type of stocks.
The stock should have run a bit into the resistance (i.e. not coiling below it) and then as it makes a new high there should be a big pop in volume and see a big offer get filled and a snap back. If you're looking for a short this is the ideal spot to get short with low risk.
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