DG Trade on Aug 29, 2019 14:50 from Cklamb: Tradervue User Stock Trades.

Gravatar

Shared by
Cklamb

 

DG

Intraday Fundamentals
• MW Dollar General shares rally 7% premarket as earnings top estimates
• Dollar General Raises Full-Year Guidance
• 07:14 AM EDT, 08/29/2019 (MT Newswires) -- Dollar General (DG), a retailer, reported fiscal Q2 adjusted earnings of $1.74 per share, up from $1.52 in the comparable period a year ago and topping the estimate of $1.58 from analysts polled by Capital IQ.
• For the quarter ended Aug. 2 total revenue of $6.98 billion was up from $6.44 billion in the comparable period a year ago and exceeded the Street projection of $6.89 billion.
• Dollar General guided full-year adjusted EPS guidance in the range of $6.45 to $6.60, straddling the Street estimate of $6.47. The company expects full-year net sales growth of approximately 8% from $25.63 billion in fiscal 2019, revised from a prior expectation of 7%. The new guidance implies an expectation of $27.68 billion in revenue for fiscal 2020, topping the Street projection of $27.52 billion.
• The company named Jeffery C. Owen as chief operating officer. Owen previously served as executive vice president of store operations, overseeing nearly 16,000 stores in 44 states. Steven G. Sunderland will succeed Owen as executive vice president of store operations. Sunderland has previous experience as senior vice president of retail operations for Office Depot (ODP).
Technicals
ADV 1.74M RVOL 1.39 BETA .59 ATR 2.82 Short 1.4% Inst Own 99.7%
Daily

Hourly

Intraday

Trading Strategy
• If this stays strong moving into the open, there is a possibility to play a breakout trade above 153.20, you will take a small position and set the stop under 153 and if it continues to hold 153.20
• If the stock does not have the momentum to move past the pre-market high, look for a pull into 150 and see if that level holds with some consolidation and take a long position there. You should put the stop at 149.31 with a target of 152
• If the stock shows strong profit taking at the open, look for longs at 148 and or 145 before you will have to le that price action help you set a reasonable stop.
• Short this only if 153.20 breaks on a spike and it cannot reclaim it, target 150 with the stop at at 153.25
• Follow the trend and the momentum.
Reading the Tape
Tape went green and the candle started to extend . I got in.
Trade Management

Trade Review
• I just happened to be watching this as this scalp presented itself
• Entered and was able to take only 2 cents of risk
• I exited on the rejection of 157
• I needed to set the stop underneath the candle that broke 157
• I was managing the P&L as this trade turned me green for the day and I did not want to give that up
Trade Grade

Aspect Score Poss. Notes
Preparation 7 10 I had several levels to work with and I knew why this was moving in such a positive manner
Hard Work 2 10 Not really I took this on momentum as it started to break.
Patience 3 10 No.. I saw the tape turn green and the extended candle and took the trade
Plan 3 10 I had a target and jammed the stop to 2 cents
Discipline 7 10 I am going to say yes on this. Because, I am working on taking trades as the momentum looks to be favorable for quick scalps
Contribution NA 10

Replay 0 10

image


Execution detail:

Date/time Symbol Side Price Position
2019-08-29 14:50:37 DG buy $156.776 long
2019-08-29 14:51:17 DG sell $156.910 0


Leave a comment about this trade!

You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes just a few seconds to sign up, and it's free!

View plans, Sign up for free, or Log in