Earnings Release:
-- EPS and rev. beat, rev. +8% Y/Y
-- comp. sales up 7% vs 5% consensus
-- gross margin down
-- low short float %, large instit. holding
-- Retailer that was lagging behind (compared to HD,TGT, WMT, LOW, etc.)
Nice gap-up (+9.5%) above the 200SMA@daily=$93.5 and major daily resistance S1=$95.3, and very strong premarket action.
Next resistance at R1=$100, air-pocket/window to R2=$106.
Plan as follows:
a) BULLISH as long as it holds above S1=$95.3. Not interested at all below that level.
b) (P)Earnings play
c) (S) Bullish Bias - Holding Support at S1=$95.3
Held above S1=$95.3 for at least 10-15min after open, with sellers failing to push it lower.
Entered long Tier 0, as it started holding higher risking below S1, added Tier I for the break of HOD=$97.8.
Profits on the way to R1=$100, best sell at $99.8.
Quick scalp at the pullback to VWAP, closed core when it broke below the m. average.
Nice trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-05-28 09:40:45 | DLTR | buy | $96.516 | long |
2020-05-28 09:45:07 | DLTR | buy | $96.790 | long |
2020-05-28 09:57:03 | DLTR | buy | $97.470 | long |
2020-05-28 10:04:23 | DLTR | sell | $98.490 | long |
2020-05-28 10:04:42 | DLTR | sell | $98.840 | long |
2020-05-28 10:14:08 | DLTR | sell | $99.720 | long |
2020-05-28 10:28:15 | DLTR | buy | $97.810 | long |
2020-05-28 10:31:33 | DLTR | sell | $98.700 | long |
2020-05-28 11:26:32 | DLTR | sell | $97.250 | 0 |
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