APC Trade on May 6, 2019 10:13 from MarcoG: Tradervue User Stock Trades.

Consolidation Squeeze Play above pm high on Fresh News!!

Requirements:

RVOL: Possibly >1.5
pmVOL: Possibly >50 K
avg Vol: > 1M
Vol @ Day : > 1 M
Gap: If possible but not strictly needed
Long Term Chart : Possible Pocket, trend already defined and strength.
Float: > 20 M
Short Float: Possibly >40%
Institutional Ownership : Possibly > 100%
History of Gap Follower: Neutral
History of former runner: Possibly YES
Major ETF movement and strength: Possibly Trending with strength

Company Description

Sector: Technology
Industry: Software - Infrastructure

Anadarko Petroleum Corp. is an independent exploration and production company. It operates through the following segments: Exploration and Production; WES Midstream; and Other Midstream. The Exploration and Production segment explores and produces natural gas, crude oil, condensate, and natural gas liquids. The Midstream segment engages in gathering, processing, treating, and transportation services to the company and third-party oil and natural gas producers. The Other Midstream segment consists of midstream assets not owned by WES. It markets oil, natural gas, and natural gas liquids in the United States, Algeria, China and Ghana. The company was founded in 1959 .

Trade Scenario

Good news regarding assets sales in the African Continent.

Trade Variables

Symbol : APC
Gap : 4%
RVOL :
pmVOL : > 50K
avg Vol: 5 M
Vol @ Day: 27 M
Float:
Short Float:
pmPATTERN :
Catalyst : Fresh News

Technical Levels

Support: 74.5
Resistance: 75.29
Inflection:

Trade Plan

Price just jumped 4%. A further move above pm high could be a possible trade!!

Set-up : Consolidation Squeeze Play above pm high
Side : Long
Size : 40
Entry : 75.27
Takes : 75.68 / 75.95 / 76.35 / 76.62
Exit : 74.99

Comments:

I have traded APC due to gap in pre-market with good news regarding assets sales in the African Continent. The price marked a beautiful ascending triangle with consolidation just below pre-market high. Once entered the price immediately drop against me but respected the eMA perfectly. Once the break-up of pm highs we have got a nice pull back from 75.39 to 75.29 I have thus added once back at 75.39
Unfortunately the stock didn't perform stopping and resisting at the half dollar break. In addition came across at 75.55 a huge 250 K order on the ask. The price indeed rejected the price getting back to PM high. The stock kept selling the half dollar. I have thus closed break-even my position.
Main consideration is regarding the SPY gap down due to the Trump announcement of raising import fees to chines companies. This scenario led investors to focus a bit everywhere and as a result not enough volumes came in for a proper move.