NNVC Trade on Jan 27, 2020 15:38 from Marius: Tradervue User Stock Trades.

Gravatar

Shared by
Marius

 

Big Picture

Markets notable gap down with weakness. Was watching Coronavirus related biotech as they have been getting volume tractions with the outbreak. Will be busier as the week develops w/ FOMC and a ramp up on earnings releases. Seeing if markets will hold this opening week levels.

Intraday Fundamentals
RVOL - 34.67
AVOL - 962.50
ATR - 2.33
Short Float - 7.01%
Shs Float - 2.74M
Inst Own - 3.10%
Market Cap - 58.46M

Technicals
SPY 30m,
image
TICK + ADD 5m,
image
NNVC D,
image
NNVC 1m,
image

Tape Reading
Notable buying since the pre-market. A low float so spread was wide at times and when levels + price action wasn't clear. I focused to see bids and offers step up or down here and see the change in orderflow. Still getting in my time and adding to it whenever I read the L2 and TS.

Trade Management/ Trade Reivew

Levels were marked in since the pre-market. I missed the opening drive as my confidence + conviction was lessened trying to find an area to risk off. The spread wasn't that tight as well. I did hit the trigger at 14.50 risking off of 14 but I had one more confirmation. This would have played out very well to about 1/6. I did not follow through. I need to recognize my strengths and press when I have the chance in the future. The momentum and buying was evident on the tape. The market was weak and this name was uncorrelated.

The actual trade I took was in the PM session breaking 15.50. It did hold for awhile but reversed and I manual stopped out. I need to recognize that where the move came from and note to myself that the short float is not as high so it won't squeeze like other EOD day moves. Let the stock reset then trade off of that. I did not mark the 16 level from the open as well which might explain some of the reset price action here. I re-traded of the reset here and test into 16 successfully after that, which is journaled on another account.

Overall I grade this as a C to B-. Still executed as "one good trade" but a few tweaks to it to make it better. Next time I will wait for the reset and retest when a move to a level is this notable based on the stock metrics.


Execution detail:

Date/time Symbol Side Price Position
2020-01-27 15:38:27 NNVC buy $15.700 long
2020-01-27 15:43:08 NNVC sell $15.364 long
2020-01-27 15:43:08 NNVC sell $15.350 0


Comments

2020-01-28 17:34:56
 

Hey mate! The most important thing you had to consider is how price approached the level. If it consolidated at 15,50 and then brokeout it's a good spot to join with short stop, but in your case stock started it's move from 14,50 and stopped out everyone who was shorting. If joining in such spot you not in advantage as your stop is way too much and RR is not in your favor. However another way to join after such move was actually see if price held 15.50 then enter on a breakout of that new consolidation with a stop below it.

Peace! ;-)

2020-01-29 04:39:30
 

I appreciate the constructive feedback ! Will keep this in mind on the next trade.

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