PFE Trade on Jul 6, 2020 09:43 from Cklamb: Tradervue User Stock Trades.

PFE
Intraday Fundamentals
• Second day Play on COVID vaccine positive trial
• This gap filled Thursday, then retook opening print and the 34.70 outlined a s resistance
• It did sell off with the market in the after noon closing just above the prior day’s high or gap fill
Technicals
ADV 28.38 RVOL 1.52 ATR .91 BETA .67 Short 1% Inst Own 73%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• Gap fill long at 34.50 target in 34.80 risk 34.39 is a decent probability trade here I believe, I would expect it to flush a few cents below 34.50 and I should try and wait for that.
• Short the PM high if it spikes to there out of the gate and consider 35.10 depending on the tape at the open
• Long 34.27, the Prior day low looking for 34.50 risk 10 cents
• I should be able to add some size to these trades, it will move slow and test patience if you work the set up other thane 34.30 long set a bracket and give it time to work.
• VWAP tests and momentum scalps

Reading the Tape
I saw this base on the tape at .55 after selling off the few minutes prior. Plus, the next run back in to 34.60 and watching this not giving on the bid side at all.
Trade Management

Trade Notes
I was not at the key board as the bell rang. I had no plan to trade anything that I thought would set up quickly. So, I came into the tape a couple minutes in and it was weak enough that it was easy to see this was going to come at least close to 34.50. This gave me plenty of time to take the long that would have matched my game plan. It was just a bit off the ideal. I got a little greedy and with the weak tape I thought that if it would give up.55 I would be able to take the deeper long off .27. However, it bounced back into 34.70 where I had a level set from late last year and took the short there.
With the level at .70, the declining slope of the SMA, and the early weak tape set me up to trade looking for a 7/14 set up trying to enter at 34.69. I would fill a little against me. But I got the 7 cent partial to cover the risk and held this until 34.60 started holding for a couple of minutes.