TGT Trade on Aug 19, 2020 11:10 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

TGT
Intraday Fundamentals
• Target Corp. posted the strongest quarterly growth in its history, including a near tripling of digital sales, as coronavirus concerns fueled demand for services that let shoppers pick up goods in parking lots or skip trips to the store.
• Like rival Walmart Inc. , Target has benefited from being able to stay open throughout the pandemic as well as selling groceries and other household staples. Online comparable sales rose 195% from a year ago, driven by same-day pickup and delivery services. Walmart said Tuesday its e-commerce revenue nearly doubled in the latest quarter.
• Target’s comparable sales, those from stores and through digital channels operating for at least 12 months, rose 24% in the quarter ended Aug. 1 , a company record and twice as much as in the May quarter. Target executives cited broad gains across categories such as food, electronics and home goods and a rebound in clothing sales.
• “In the current environment, each of our categories are performing very well,” CEO Brian Cornell said on a call with reporters. The Minneapolis company estimated it has taken about $5 billion in sales from competitors since the start of the year.
• For Target , sales of higher-margin goods such as apparel helped boost profits, offsetting coronavirus-related expenses such as higher wages and cleaning costs. Net income increased 80% compared with last year, hitting $1.7 billion and beating Wall Street’s expectations.
• Target said it plans to lengthen the traditional back-to-school shopping season, making school supplies available throughout the fall. Target said it thinks around two-thirds of American students are starting the year learning online without clarity on when in-classroom teaching will resume. “We want to extend the season,” Mr. Cornell said, “and be ready.”
Technicals
ADV 4.36 RVOL 1.3 ATR 2.57 BETA .8 Short 2.53% Inst Own 84.9%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• VWAP Entry work
• Long around 143 if the level holds,
• 139 if the selling is furious could be a sport for a reversal
Reading the Tape
Trade Management
Trade Notes
This started to look like it was going to give some momentum up as both VWAP and the longer SMA started to flatten out. I pushed the limit entry on this trade. I did not wait for the entry structure to set up to put the limit in. I took an HoD stopped. This would spike me out as it a new HoD.
The same trade as I started with just a new high later. I would set this on sell stop under the breaking candle risking the candle and held this for a one for one set up.

image


Execution detail:

Date/time Symbol Side Price Position
2020-08-19 11:10:05 TGT sell $154.010 short
2020-08-19 11:10:06 TGT sell $154.010 short
2020-08-19 11:13:13 TGT buy $153.625 0


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