ATVI Trade on May 6, 2020 09:40 from J_Matrix: Tradervue User Stock Trades.

ATVI had an amazing ER announcement and reaction:

RVOL 2.38 ATR 2.72 Inst Own 92.60% Short Float 2.07% Float 7.59M

-ATVI beat earnings huge with very positive guidance making 52 week high.
-ATVI has been green for the prior 3 days before earnings indicating a bullish sentiment. Moreover, ATVI has closed above a key weekly resistance of 68.30 before the ER announcement.
-ATVI gapped up 5% premarket and continue to rise in premarket.

-This is a bullish retest gap. Meaning I do expect a profit take at the open to cause the stock to dip. I was looking for that dip and I think the main trade is to get long once intraday support has been established.

-Waited patiently for the initial dip to subside and basically nailed the bottom of the pull in. Got long at and peeled off as it pushes. 9:40am

-Proceeded to add back into the long and used it's prior low as a risk. ATVI didn't have legs so and my overall long trade was stopped out. 10:24am

-By 10:25 I was very convince that there was no more buying on the day as my previous long position didn't hold up for about 40 minutes. The stock had many chances to continue to go up but the buyers just never showed up. Moreover, ATVI was trading cleanly under the VWAP by about 1 standard deviation after the first VWAP rejection from 9:47am.

-The 10:25am candle was a massive breach of the prior consolidation area, although it have not breached the morning lows. This price and tape action led me to believe today was a short and fad day for the stock so I sized into my short with conviction. 10:29am

-The short trade was working right away so I added even more size to my then winner. But i was faked out when the stock reached morning lows and never broke down. 10:34am

-I proceeded to size down with caution that the bounce could indicate a double bottom. My risk for the trade was the prior key resistance of 72. As price got close to 72 I was watching the tape and sellers were holding it down for the minute of 10:45am. I then max sized it my position and was stopped out hitting my daily stop of $500 on any given position. Slippage on the market stop added to the PNL loss. 10:48am

-By the time I got stopped out, I've realized that I over committed my self in the trade which caused my demise. Following my rules, I turned off my platform and called it a day as I was now emotionally tilted and was not in a good position to trade mentally.

Shares Traded: 3050
PNL: -585