AAL Trade on Sep 28, 2020 09:34 from Cklamb: Tradervue User Stock Trades.

AAL
Intraday Fundamentals
• 04:25 AM EDT, 09/28/2020 (MT Newswires) -- American Airlines (AAL) has signed a loan and guarantee agreement with the US Treasury for a secured term loan facility totaling $5.48 billion under the Coronavirus Aid, Relief, and Economic Security Act that was authorized by the government in March, the airline said in a filing late Friday.
• The agreement includes an option to increase the facility by $2.02 billion, subject to the approval of the Treasury. The loan is secured by a first priority security interest on the company's rights under US co-branded credit card agreements and certain other loyalty program partner participation agreements.
• As of Sept. 25, the facility has been drawn down by $550 million, the company said.
• American Airlines was originally allocated $4.75 billion. However, a Reuters report said carriers including Delta Air Lines (DAL) and Southwest Airlines (LUV) have no plans to borrow, freeing up portions of the fund.
Technicals
ADV 69.4M RVOL .58 ATR .74 BETA 1.73 Short 30% Inst Own 57%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy

Reading the Tape

I did see a lot of heavy prints early on this. Every time this came back in the mid 50’s I would see less and less of the action taking place on the offer. This would lead me to adjust the stops over the first couple of minutes and start looking for a quick flush of .55 to clear.
Trade Management

Trade Notes
This gave the flush of the PM low and looked weak. I set a limit a VWAP and it filled. I originally wante to take 13 cents stopping at .80 a few cents above the opening spike. Which left me trying to hold the first for 13 cents. I did not account for the tight range that this was trading and eventually had to take some off as it bounced off .57 multiple times clearing part .60. The 943 candle which gave me a VWAP rejection and place to take the risk while still trying to hold for a further breakdown. I feel that like I could have been bigger here and playing tighter. I believe I would have set risk off the entry candle in hind sight and been able to clear at .59 for a much more solid trade.