SDC Trade on May 8, 2020 10:38 from tradelikelarry: Tradervue User Stock Trades.

Trade Planning:

• 1h Chart: Uptrend, Consolidation below recent highs.
• TTM Squeeze: none
• Earnings Date: 5/13*

Reason For Entry:

• Playing the 1h chart. SDC is in a pattern of consolidation below recent highs. Price has been honoring the 8ema on an uptrend. SDC has earnings mid next week to watching for a run up to earnings. Order filled at the buy zone (8ema) and risking .5% of portfolio. Watching for continuation for a move to new highs.

Reason For Exit:

• SDC made a run to new highs and hit my exit target at the 127.2% fib extension level.

Recap:

• This was a 1 day hold trade. The pattern was textbook, SDC made a strong move up, consolidated below its highs, and gained momentum to make new highs. SDC also has earnings in a few day and this added to the probability of price running higher. SDC also has 48% short float which also added to the probability of price popping as it did today. Overall nice favorable trade.