PEP Trade on Oct 1, 2020 09:33 from Cklamb: Tradervue User Stock Trades.

PEP
Intraday Fundamentals
• 07:02 AM EDT, 10/01/2020 (MT Newswires) – Shares of PepsiCo (PEP) rose in pre-market activity on Thursday after the beverages giant posted better-than-expected Q3 profit and revenue and a full-year earnings outlook above Street views.
• The company reported core earnings of $1.66 a share, up from $1.56 a share in the comparable 2019 period and ahead of the Capital IQ-compiled consensus estimate of $1.49 a share.
• Revenue for the period ended Sept. 5 rose to $18.09 billion from $17.19 billion in the year-ago quarter. That also exceeded the average analyst forecast of $17.24 billion as compiled by CapIQ.
• “These results reflect the continued strength of our global snacks and food business and a significant improvement in our global beverage business,” said Chairman and CEO Ramon Laguarta.
• Moving forward, the company expects full-year organic revenue growth of about 4% and core earnings of $5.50 a share, which is higher than the current Street forecast of $5.37 a share
Technicals
ADV 4.21m RVOL 1.62 ATR 2.86 Beta .6 Inst Own 73.10% Short .54%
Daily Chart

Hourly Chart

Intra Chart

Trading Strategy
• Long 138.50
• Short VWAP if it breaks 139 at the open
• Short a spike into 142
Reading the Tape

I did not see anything that was really that I could pinpoint. The momentum did stall long enough near the top. I felt confident to short it when it broke VWAP.
Trade Management

Trade Notes
This gave me quick break of the PM low and I was a little more convicted that this was going to gap close. It did look as if it may hold the level of the next couple of minutes and eventually moved above 139.50 testing VWAP. This initial hold did keep me form setting a limit in at VWAP. I vaguely watched some of the trading through the active trader window noticing the spike into 140 with a brief hold in the 80’s I committed to shorting the break of VWAP. It never looked back. With the fill that I got, I gave it just above 139.75 and this never looked back. I took a third off at 20 cents and a taking another third off way to early. I do like the stop that I set on the remainder which gave up about 10% from when I would have FOMOed out of this.
The second trade off 139.50 was a long term level from 2019 that I had worked. Simply put, I needed to be bigger on this one. There was no reason to exit this trade as small as it was. I was already protecting profits. This in hindsight and at the time seemed to obvious with very tight risk versus reward. I had tops 15 cents on this. I could have taken this risking half of the last trade and the same size. There was a lot of confluence in these opening trades.