AMD Trade on Aug 8, 2019 09:45 from MarcoG: Tradervue User Stock Trades.

Consolidation Squeeze Play! 52 Weeks High Spike 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: Semiconductors

Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom.

Trade Scenario

Advanced Micro Devices (AMD) stock gained 4.01% after market hours as the chip maker launched its much-awaited EPYC Rome server processor. AMD gaping up in pre market sat just above 100MA level of resistance at 31.25

Trade Variables

Symbol : AMD
Gap : 4.4%
RVOL : 3.5
pmVOL : >500 k$
avg Vol: 65 M$
Float: 1 B$
Short Float: 10.82%
pm Pattern : Up Drifting
Catalyst : Fresh News

Technical Levels

Support: 29.30 200SMA
Resistance: 31.26 100SMA, 33 Pivot, 34.86 52 Weeks High
Inflection: 30sh

Trade Plan

AMD gaping up in pre market sat just above 100MA level of resistance at 31.25
Room to move up to next pivot at 33. Long above pm high or long once settled above PM high for the break of the 32.

Set-up : Up-Trend Continuation
Side : Long
Size : 200
Entry : 32.13
Takes : 32.36 / 32.51 / 32.74 / 33.04
Exit : 31.98

Comments

After consolidation above 100SMA and retested VWAP, AMD sat up nicely for a long for the retest of next level of resistance at 33$. The catalyst supporting the move was quite strong and all this was a good reason for me to give it a try and long it! Volume and Relative volumes supported the move. The 32sh level showed nice bid accumulation and all the ask have been bought. It was a nice tape reading that worked good!
I have tried to add once achieved 3 targets to give my self the opportunity to rebuild my position in case the price would have kept going higher. I succeeded partially cause I have done the mistake to lock when not needed and got some FOMO after a while I was into the position! Still I need to practice on adding shares, but I am quite happy regarding the overall scenario!
I have done lately the mistake to expand my trading practice to strategies that I haven't really back-tested such as those I have used from the beginning. This lead me actually to lose time and self esteem and money! I have definitely learned the lesson here! I will constantly now apply my edge waiting for the day I will fully master my practice. Once there I will have the opportunity to add details to where I am able to edge!

08/08/2019 (After reviewing the recording of my trading session)
I have definitely fucked it up! Wrong take when back at 32.5 (25 shares) and when back at 32.6 after add 25 shares.
I have actually signed the 33 as pivot and point of resistance but I have added just when the price crossed by 4 cents such level! I needed a close above the 33 for me to add as well as I did when I have opened my position, price opened above 32.
My last piece was 35 shares. It means that with an avg of 32.82 I would have sacrificed 0.32$ of my profit. 0.32*35= 11.2$
Thus to save 11.2$ I have missed a + 4R trade, +120$ :(
I even didn't enter back in AMD when it gave confirmation of uptrend, but I have traded 1 more different name applying a B Quality setup!

I think I have something to change here!!!!

14/08/2019
My entry occurred after 15min consolidation. It worked good!
My first add after 8 minutes consolidation but price consolidated about 15 minutes. It worked good.
Last add happened after only 3 minutes consolidation. It didn't work!