Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-Jun 08 2020: Resuming production / upcoming investor conference
-Jun 09 2020: CEO on Yahoo Finance / Stock popular on Robinhood
-Sep 09 2020: Hindenburg short report / Citron backing them up / Company to respond next week
-Sep 30 2020: company issued a statement on strategy and vision / GM to potential take larger stake in NKLA
Technical Analysis
-SPY pattern: Bear Flag
-Intraday pattern: Bear Flag
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: distribution
Confluence: N/a
Strike Zone: N/a
Sizing (lots + emergency): 500
Risk (stop / Rs): Hold above 19.5 after breakdown initiation
Review / Lessons Learned
I remember that EV sector distributions working well in past, especially on NKLA so this trade was a worthy attempt, SPY was also weak which gave me more conviction. Saw the bids quickly reclaim and hold the floor in a skip up fashion so I cut it B/E.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-28 11:29:33 | NKLA | sell | $19.590 | short |
| 2020-10-28 11:29:33 | NKLA | sell | $19.580 | short |
| 2020-10-28 11:29:33 | NKLA | sell | $19.580 | short |
| 2020-10-28 11:31:20 | NKLA | sell | $19.540 | short |
| 2020-10-28 11:31:20 | NKLA | sell | $19.540 | short |
| 2020-10-28 11:38:19 | NKLA | buy | $19.600 | short |
| 2020-10-28 11:38:19 | NKLA | buy | $19.600 | short |
| 2020-10-28 11:43:21 | NKLA | buy | $19.560 | short |
| 2020-10-28 11:43:21 | NKLA | buy | $19.560 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!