MDCO Trade on Sep 3, 2019 10:16 from Cklamb: Tradervue User Stock Trades.

MDCO
Intraday Fundamentals-
• The Medicines Co. shares (MDCO) rose 17% in premarket trade Tuesday, after the company said a late-stage trial of a cholesterol treatment met its main goals. The company said a Phase 3 trial of incliran, an investigational twice-yearly therapy to reduce low-density lipoprotein cholesterol, or LDL-C, and the first and only cholesterol-lowering therapy in the siRNA (small-interfering RNA or "sir-nah") class, met its primary and secondary endpoints and showed a strong safety profile. "The results of the ORION-11 trial support the unprecedented potential of inclisiran to deliver assurance to clinicians and patients that LDL-C can be lowered in a sustained fashion over the long-term with an infrequent dosing regimen and an excellent safety profile," said Kausik Ray , M.D., principal investigator on the trial, called Orion-11, and consultant cardiologist at Imperial College London . The trial involved more than 1,600 patients. Medicines Co. shares have gained 119.2% in 2019, while the S&P 500 has gained 16.7%.
• Several price target raises, CITI, JP, Oppen ranging from 49 to 74
Technicals
ADV 1.8m RVOL 1.04 ATR 1.88 BETA .91 Short 27%
Daily

Hourly

Intraday

Trading Strategy
• Have a short term bias to the downside due to this being the second sizable gap with in a week.
• There is high short interest and this could start positive and stay that way as these shorts start to cover due to this being the second gap in a week
• Opening long scalp support play.. a long wick hitting 43.75 take on the rebound target 48 and set small at 47
• Opening short scalp resistance hold play at 50 if it wicks long to here take on the rebound target 48 stop at breakeven
• Short at 49 if the stock is unable to hold the level get light at VWAP
• Take a long at 48, 48.50 or 49 if it holds that level in after the opening range is set and VWAP is ascending start small add on pull backs. Target 51 or lower depending on risk profile.
Reading the tape
As I took, the first trade there was a changing the amount of bids getting hit. I did not see the change near that local low. The tape moved back and forth as it came into to 45 and the second rejection of 45 led me to move my stop to 1 for 1.
I did see a lot of strength on the tape after it moved past 44 on the later dip below that level. The tape just never turn red and gave a few opportunities to take the second trade off the 43.75ish support level.
Trade Management

Trade Grade

Aspect Score Poss. Notes
Preparation 8 10 I had used to multiple time frames to find levels including 43.75 for a long and I felt like 46 was an inflection point for the morning trading. I was aware of the short int this as well and made sure that I was aware of that risk.
Hard Work 7 10 Yeah, this was a modified long that took both the tape and a couple tests of a level to take
Patience 7 10 Yes..

Plan 7 10 I had a target of 46 and the intention to add if it held 45
Discipline 5 10 I managed this in a calculated manner with some tape reading to move the stop to a acceptable return. I did not make the trade as it presented itself again.
Contribution NA 10

Replay 0 10