Day Trade: Long FMCN 30-min chart

Entry @ $79.77 / 700
Exit @ $82.93 ***update 10:59am***

				Entry	:	$79.77
				Size	:	700
				Exit	:	$82.93
				Stop Loss	:	$79.00
				Risk	:	0.77
				P/L	:	$2,212.00
				R	:	4.10

I saw a possible bounce trade from the $79-80 price support area. This support area can be seen in the daily chart. The price action of the stock the last 2 days using intra-day charts shows clearly that $79 is a strong support area. Entry was when the price started to move up after initially moving below the two day low creating a possible BEAR trap scenario. Sold the position when price started to pullback when it approched the >$83 area which was the latest 52-week high.