TGT Trade on Apr 23, 2020 09:33 from Cklamb: Tradervue User Stock Trades.

TGT
Intraday Fundamentals
• Beat revenue guidance,
o 07:44 AM EDT, 04/23/2020 (MT Newswires) -- Target (TGT) said pre-market Thursday that sales trends have significantly improved since April 15, with digital comparable sales growing by "more than 275%" including several days with more online sales than Cyber Monday, the late-year shopping event that's usually the busiest day for e-commerce companies.
o While shoppers are making purchases online, the retailer said in-store comparable sales have dropped in the mid-teens so far this month. Residents across the US are under orders by local governments to restrict their outdoor movements in an effort to curb the spread of the COVID-19 respiratory virus.
o Month-to-date in April, comparable sales have risen by more than 5%.
o Target said month-to-date comparable sales have increased by more than 12% in both essentials and food beverage category, and by more than 30% in the hardlines category. Sales in the apparel and accessories category, however, have dropped by more than 40%.
o The company also said it will extend its $2-per-hour temporary wage increase until May 30 and will continue to offer access to other benefits and programs. Target had earlier made a $300 million investment in wages, bonuses, paid leave and benefits for its frontline team members.
• Operating margins under pressure
• Foot traffic down, same store sales increases have come from digital sales
Technicals
ADV 5.93 RVOL .49 ATR 5.28 BETA .72 Short 1.93% Inst Own. 85.50%
Daily

Hourly

Intra

Trading Strategy
• Short a drop off 99 unless it flushes all the way through to 98 at the open and then take an S@ long attempt for an opening scalp trade
• If this moves higher at the open wait to see what happens as it tests VWAP and the SMA in opening 15, if it holds take a small long and look for this work back into 102 and maybe even 103 ish
• Opening range plays late in the morning or midday
• Following the trend channel if it develops,
• VWAP TESTs and SMA plays at levels ( avoid SMA plays during the midday)
Reading the Tape
Other than the sudden stop at the PM high, I did not see much as I took these shorts.
Trade Management
Trade Notes
I had 103.50 as PM high that i did not think would get touched as early as it did. I shorted of the level but got filled pretty crappy for not even a second of hesitation. However, i was able to stick with the trade and waited for the pullback from the initial test. This was solid trade. But, I was thinking this would happen in reverse to fit a long bias. However, I felt that it would not close mor much more than 50% of the gap and I had that around 103.50 and kept working the short side not being open minded.