KHC Trade on Aug 8, 2019 09:38 from MarcoG: Tradervue User Stock Trades.

Trade Scenario

Kraft Heinz Co. shares fell 14.5% in Thursday trading after the food company released preliminary first-half results, indicating a steep earnings decline and more than $1.2 billion in impairment charges.
52 weeks low crack. Sat below in pm

Trade Variables

Symbol : KHC
Gap : 15%
RVOL : 7
pmVOL : >100K
avg Vol: 9M
Float: 621M
Short Float: 3.79%
pmPATTERN : 2 Bear Flags
Catalyst : food company released preliminary first-half results

Technical Levels

Support: None
Resistance: 31.30 20MA
Inflection: 28sh

Trade Plan

Set-up : Down-Trend Continuation
Side : Short
Size : 100
Entry : 26.32 (Below pm Low)
Takes : 25.86 / 25.56 / 25.10 / 24.49
Exit : 26.62

Comments

KHC dropped hard around 14% due to bad news! Got below 52 weeks low and retested that at the open slowly fading below VWAP. I could have anticipated the entry at 26.72 but I didn't like tape and volume profile. In the end I was right, the price never settled below pm lows. So question? Why the f... I have entered the trade?
Once in I have thus decided to stop break even. At 09:40 price marked a reversal outside bar at the bottom kicking in bids. Enough for me to get out!

14/08/2019
Perhaps I should have longed it afterwards for the brake of 27?