VKTX — gap-reversal

Summary

Overnight offering at 35. Promising weight loss drug results, but inconclusive. 13.5% gap is massive, taking into account that the last 3 days have been quite volatile, and with the volume, it had potential for a good reversal. I don't want to call it a capitulation because it was only one big red bar reversing what made me want to get in. It was mostly the recent volatility, with the reversal after the red bar. Get in after it makes the double doji on the way up. I didn't want the stop too tight based on the entry, so I had it a bit lower than the open of the bar. Sell half as it pushes and the rest if price comes back from the low of the bar, which it did.