Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Power lines may have started 3 California fires
-Power shut off due to safety concerns
-Company restructuring, possible bankruptcy
-Jan 29 news: PG&E Continues Chapter 11 Progress by Securing More Than Two-Thirds Support for Noteholder Restructuring Support Agreement
-Jun 05 2020: $11 Billion debt deal for bankruptcy exit
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Consolidation
-Levels: 12.1, 12.5, 13.3
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 12.5
Confluence: Half $, VWAP
Strike Zone: 12.52 - 12.4
Sizing (lots): 3
Risk (stop / Rs): Hold below 12.4
Review / Lessons Learned
Didn't get to full size because it was top heavy and weak, it couldn't break above 12.6 sellers so I sold as I saw it fail on the tape.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-06-05 13:40:32 | PCG | buy | $12.580 | long |
| 2020-06-05 13:43:22 | PCG | buy | $12.500 | long |
| 2020-06-05 13:55:07 | PCG | sell | $12.570 | 0 |
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