PLAY Trade on May 4, 2020 09:31 from Cklamb: Tradervue User Stock Trades.

PLAY
Total gain/loss: $5.10 Largest gain: $5.10 (show)

Average daily gain/loss: $5.10 Largest loss: $0.00
Average daily volume: 60 Average per-share gain/loss: $0.17
Average winning trade: $5.10 Average trade gain/loss: $5.10
Average losing trade: n/a Trade P&L standard deviation: n/a
Total number of trades: 1 Profit factor: n/a
Number of winning trades: 1 (100.0%) Average hold time (winning trades): 4 minutes
Number of losing trades: 0 Average hold time (losing trades): 0
Max consecutive wins: 1 (show)
Max consecutive losses: 0
Average position MFE: $5.25 Average position MAE: $-0.13

Intraday Fundamentals
• May 4, 2020 07:40 AM ET (BZ Newswire) – News
• DALLAS, May 04, 2020 (GLOBE NEWSWIRE) – Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) (the “Company”), an owner and operator of entertainment and dining venues, today announced that Jefferies LLC (“Jefferies”) has agreed to purchase $100,000,000 of the Company’s common stock (the “Shares”), to be reoffered by Jefferies at variable prices. In addition, the Company has granted Jefferies an option, exercisable for up to 30 days, to purchase up to an aggregate of an additional $15,000,000 of shares of common stock.
• The Company currently intends to use the net proceeds from this offering primarily to strengthen its balance sheet, principally as necessitated by the effects of the COVID-19 outbreak on its business, which could include use for general corporate purposes and/or repayment of outstanding debt.
Technicals
ADV 3.75 RVOL .94 ATR 1.89 BETA 1.61 Short 30% Inst Own –
Daily

Hourly

Intra

Trading Strategy
• PM low should act as a strong level of support,
• There will be strong resistance at 12 so short it if it spikes to this at the open
• Short if 10.88 drops and cannot regain the level and follow the trend
Reading the Tape
I held as I waited to see if this could break the VWAP. It could get to .20 but only on pulses and stay about .16 most of the time around the VWAP out of the gate.
Trade Management
Trade Notes

I settle on trading this out of the gate due to this woudl be easier to control risk in the first few minutes than the other stocks I had outlined. I missed the run up from the open. BUt, as it came into the second candle the upward momentum has started to fail. I tried to get in at .20 and filled at .17. I had set for a 2 for off 15 cents looking for it flush in the 10.80 area. But, the action stayed fairly strong as it continued to test 11.20. So, whenit gave me a one for one set up. I got bit anxious think that 11 would hold. It did flush but not for long and never trade below there again for the rest of the day.

I realy was not sure of how to read this catalyst and made my judgement of the gap. I did have 10.80 as a level. I had a plan to short it underneath. It turned out that would ahve been the best long of the day.