ADSK Trade on Aug 28, 2019 09:31 from Cklamb: Tradervue User Stock Trades.

ADSK
Intraday Fundamentals
• Shares of Autodesk Inc. (ADSK) were down more than 10% to $134.50 in extended trading Tuesday as the company delivered a downbeat forecast.
• The product-design and manufacturing software services company lowered its fiscal 2020 earnings forecast and narrowed its sales range. The company now expects revenue growth of 26% to 27% with earnings projected between 75 cents to 87 cents a share, and $2.69 to $2.81 a share on an adjusted basis.
• The company said it was providing conservative projections because it was keeping an eye on trade tensions and macroeconomic uncertainty.
• Price target cuts from RBC and Key banc
• Ratings downgrade by BofA
Technicals
ADV 1.8M RVOL 2.20 BETA 1.83 ATR 4.51 Short 1.87% Inst Own. 97%
Daily

Hourly

Intraday

Trading Strategy
Support 132 and 131 Resistance 133, 134 135
• This is trading around the highest volumes of the after hours session when the stock moved down after earnings.
• Expect a test of 135ish at the open if it continues to step up on the few traders that shorted this going into the earnings report yesterday.. IF this happens, try and take the short as near 135 as you can if it wicks to there and has the hard rejection follow the momentum
• This is donw over 10% and is still growing YoY, if after the opening minutes this has moved down into the close and opens up and turns red work at getting short at 132 with the target at 130.
• If it bases at 130 in opening hour take a short is .30 risk and look for the run back to near it’s opening print.
• Take the short if you can get a lower high, set the stop above that lower high and looks to hold this to 127.50 if its below 132 or 130 if that lower high is closer to 133.
• If the opening range stays between 132ish and 134 ish let it build a trading channel and work to play the range and counter trend trades
Reading the Tape

I did not read the tape on this opening trade.
Trade Management

Trade Review
• I was to small…
• I believed that there would be short covering out of the gate
• I got the long wick to almost 135
• I stuck to the entry plan
• My plan did not have a target
• With out a target… I needed to follow my SMA with a stop
• I took the point leaving me with just less than a 1 for 1 trade( this needs to improve)
• Even with some visualization this morning concerning holding trades until there is a reason to close.. I did not even use my back up exit strategy

Aspect Score Poss. Notes
Preparation 9 10 Pretty good here
Hard Work 8 10 In Prep and focus to the pre market action
Patience 5 10 NO.. no reason to cover
Plan 5 10 Plan lacked a target
Discipline 5 10 NO… I had no reason to cover, but, I did entry almost exactly like I described in my AM game plan
Contribution NA 10

Replay 0 10