UAA Trade on Feb 11, 2020 09:39 from Marius: Tradervue User Stock Trades.

Big Picture
Markets at ATH's. Relative strength in the tech sector. More room for an upside trend move now that markets have pulled back from the beginning of the month.

Intraday Fundamentals

RVOL - 26.87
AVOL - 4.48M
ATR - 0.67
Short Float - 10.21%
Shs Float - 381.69M
Inst Own - 97.00%
Market Cap - 8.90B

UAA had reported Q4 earnings losses and below consensus FY2020 guidance. The institutional ownership is 97.00 % meaning a lot of investors may want out of the positions. Longer-term levels are significant.

Technical Analysis

Trade Review

Re-working my trading executions and risk management after yesterday's mistake and loss. Traded within my guardrails with an open mind knowing markets were at ATH's and UAA was one of the weakest stocks in the market. Value buying can come in but I need to see it on the tape.

Was using levels and thought processes shared from the AM meeting. Noted the pre-market levels and visualized if + then scenarios and what I need to see on the charts and tape. 17 was an inflection level and built a position based off of that. Continued to see weakness within the first hour of trading.

I covered my position into 16.75 seeing the move away from 17 and the volume change on the 1 minute. The tape should have shown a change as well. A few minutes later there was another large volume push back into 17 and towards VWAP. I also noted the ATR distance from VWAP on exit. It was about 3/4 of an ATR from VWAP before the retracement. At this point it was after 10am and I was thinking trend after opening price range discovery.