Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-IPO last September
-Went public as the IPO market was bearish
-Jan 6th 2019: SDC partnering with Walmart on exclusive Oral Care product deal (analysts raised PT)
-Jan 14: SmileDirectClub jumps on plans to start selling aligners to dentists
Technical Analysis
-Supported at $7.70 - $8 on daily chart
-Supporting above $8 before Walmart news
-Made new swing high on Walmart deal news
-Back side of swing in today but supported at 12.90 - 13 area
-Levels: 12.60, 13, 13.50, 14, 14.80
Original Plan / Strategy
First Test Short of 13.80
Review
- Level wasn't clean but there was confluence with the R/G (prior close) level
- Level was close to 14 psychological level so when it broke 13.80 and tested 14 I added a lot at 14
- The lot I added at 14 made the trade green
- I stopped out of my last two lots as the tape was strong
- Made right calls as I most likely would have stopped out when it broke 14 15 minutes later
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-01-16 10:14:34 | SDC | sell | $13.750 | short |
| 2020-01-16 10:14:47 | SDC | sell | $13.780 | short |
| 2020-01-16 10:15:40 | SDC | sell | $13.810 | short |
| 2020-01-16 10:15:55 | SDC | sell | $13.840 | short |
| 2020-01-16 10:17:43 | SDC | sell | $13.990 | short |
| 2020-01-16 10:19:59 | SDC | buy | $13.710 | short |
| 2020-01-16 10:19:59 | SDC | buy | $13.680 | short |
| 2020-01-16 10:23:28 | SDC | buy | $13.820 | short |
| 2020-01-16 10:24:06 | SDC | buy | $13.877 | 0 |
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