PFE Trade on Jul 2, 2020 09:37 from Cklamb: Tradervue User Stock Trades.

PFE
Intraday Fundamentals
• Second day Play…
• Closed at the LoD, trading at the top of yesterdays range premarket
Technicals
ADV 28.1m RVOL 2.53 ATR .89 BETA .69 Short 1% Inst Own 73%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• Long this if this moves above 34.75 and pulls back to hold 34.50 and starts to move away from that level risking 34.28
• If this sells off out of the gate look for scalp bounce off 33.80 trying to hold a small portion in the case that this holds that level for the level for the day
• If this breaks down, wait for retracement back to 33.80 or 34 ish and take this short looking for 33 risking just above 34.
• This has blown through the local high set yesterday PM, expect it to sell off and look for the long at 34.50
• If this drops 34.50 for a period of time short the retest
Reading the Tape
I watched this out of gate it looked like it ws going to get strong and move above 34.70 but feel short. Form there, it was weak all the down to .20 before it caught any bids. It did bounce and the tape got heavy above .40 and dropped out from there. It would find a large bid just under .10 and struggle at .20 consolidating a bit. This came to the bottom side of the spread and made it easier for me to close the small gap there.
Trade Management
Trade Notes
The spike bounce on this lead me to believe that I had a chance to get something of the profit taking spike down. The plan was to wait for it to flush under 34. But, the tape was not showing any weakness under 34.12 after it had spike into the HoD from March 27th. I feel like I took the partial a little early. But, I held the last portion to target with one more partial just before then. This set up for a follow up short that was lined out in the game plan. I just was noticing how tight this was already trading and decided to looks elsewhere for something to stare at for easier scalps.