SVRA Trade on Dec 31, 2019 14:53 from Marius: Tradervue User Stock Trades.

Markets had strong selling at the open the prior day. Today's opening was the reverse and confirming with higher ticks and ADD through out the day. Ended the session relatively on a strong note.

This is a second day play on $SVRA based on technicals set on the prior catalyst day. Trading on second days after the initial news or catalyst days is less crowded and levels are more defined. RVOL, volatility, and liquidity was above average still which is common in these types of trades.

I had a bad rip yesterday on this name but it was well reviewed, coached myself, and was able to pick my trading back up. I was watching the opening market, a couple names, tapes, and analyzing where I could get in. I didn't see an opportunity that was clear for me and took no trades. I took some time off the screen and market after the morning opening session keeping in mind all levels and price action that took place. Came back for the closing session where I spotted an opportunity.

RVOL - 11.78
AVOL - 542K
ATR - 0.40
Short Float - 2.48%
Shs Float - 33.21M
Inst Own - 42.90%
Market Cap - 171.85M

SPY 10m
TICK + ADD 5m
SVRA 5m
SVRA 1m (area of trade)

Trade Management / Trade Review

I noticed on the 5m time frame buyers held 4.25 and stepped up the bid in the middle of the session after the pre-market + opening am session sell off. This is why I didn't find a trade in the morning. The volume spike which cleared hod showed buyers moving to take full control and possibly bring the stock higher. I watched the consolidation and was looking for a tight + shallow compression range and strong level where I can risk off of and where the buyers were holding. On the last attempt of the sellers to break the 5.00 level, I saw the tape accelerate with heavy selling orders and bid hitting. I noticed a quick change in the order flow when the buyers took back control and held the bid back above 5.00. The volume was confirmed and elevated here and I had a plan to buy into the tight range breaking 5.10 and momentum. The offers lifted and the bids stepped up above 5.25 and held. I exited my position getting close to the 5.50 level which was my reason to exit. (move2move scalp + momentum + price target).

Shortly after I was watching to see where and how much would the sellers step in. Price was not able to hold the trend, hod, and failed. This was another trade unfolding as a short which I did not plan for but noticed and noted after. Price settled into the lower end of the day's range at the close.

I'm grading my trade and execution here as an A after my mistakes yesterday. I was more focused and aware of my platform parameters and constraints. Executed as I planned and would have yesterday.