YETI Trade on Mar 23, 2020 10:34 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:
- Daily Chart: Was uptrend, now is oversold, Consolidating at a support area.
- TTM Squeeze: None
- Earnings Date: 5/14-

Reason For Entry:
- Playing daily chart. YETI was previously in a long term uptrend and now oversold due to Corona Virus pandemic. Price retraced back to the (support area) and consolidates. I then entered the PCS trade. YETI has over 20% short float so this adds to the probability that price can squeeze upward. Betting that YETI closes over $17.5 at expiration on 200417. Risking 1% of portfolio on this trade.

Reason For Exit:
- YETI approached a resistance level (21ema) and I closed the trade for a 70% win.

Recap:
- Nice PCS entry with a risk of 1% of portfolio. This is one of those setups that a strong stock gets oversold and approaches a support level. The trade worked out and price bounced and approached a resistance level (21ema) and I closed the trade for a 70% win. Overall, nice entry, stayed patient, and closed the trade at a defined resistance area.