ZOM Trade on Jan 11, 2021 07:03 from iDrummer03: Tradervue User Stock Trades.

Playbook Trade
1/11/2021
ZOM
Zomedica Corp

ZOM Stats:
Market Cap: 433.5 Million
Float: 539.1 Million
Insiders Own: 4.42%
Institutions Own: 8.5%
Short Float: 8.02%
Avg Volume: 83.45 Million
Relative Volume: 12.93
ATR: $0.09

Big Picture:
SPY trading generally sideways after about a 0.6% down move that begun yesterday and continued in the early premarket hours this day.
ZOM relatively un bothered by the politcal discourse. Trump banned off social. dramaaaaaa.
However ZOM showed up on my scanner as a 0.20 stock. heavy volume relative to the recent 60 days.
Its been on my chart grid to keep an eye on because i liked the shape and volume of the moves it made originally.
The stock doubled in a huge one day move breaking out above its two year long consolidation. Then ZOM ended up trading sideways for about three days.
Over the next two days ZOM held sideways mostly developing a clear level to watch holding the 0.40 level.
on day three after the move ZOM began to create a clearly active stair step up pattern towards its revent consolidation highs and made moves above two levels cleanly.
.45 , .47 and .50 was eventually double tapped during the after hours.
At some point, the female star of tigerking was pumping the product this company has developed to helpd vets and animals. game changing technology supposssedly.
Evevn if not Tiger Kings Lady star is noticed by enough people for the paid pump to actually maybe work.

Trade Idea:
Bull Flag Consolidation Breakout
Technical Levels Reaching up towards 2 Year Breakout Contimnuation.
ZOM Blasted off during premarket hours almost doubling again to .73 this took 20 minutes.
then we traded extremely tight sideways in a type of flag like battle. this battle included one tightly battled out candle with a small candle and two huge wicks both sides.
Next move was a sloppy down move but we couldnt break below .60 psychological level. which was the fourth 5 min bar range.
We formed a beautiful shaped tightly consolidating arch like pattern for the next 40 min then attempt to drop out from that flag like pattern and cant then we pop above the consolidation range and wick back down. thats when im interested.,
The stock is holding above 20 day moving avereage this whole move.
Around 4 o clock am PST people on TOS like me can start tradding and things liven up the stock pops up to .80 and attemots another flag like consolidation. the flag lasts about 30 min and we attempt and do drop out of the flag like range.
we pop below the 20 day moving avg and then go for a test of the 50 day moving avg. lining up around .60
VWAP is in between 20 and 50 day moving avg as well which has been tapped only once this morning and respected 90% cleanly.
the stock breaks below its range to touch the 50 and it wicks up quickly within 5 min we bounce right back up and within the next 15 min we are back above the 20 day.

The Trade Action:
I was interested in becoming involved from the 60 to 80 cent retest.
so shorlty after the wick down i was ready to enter. the hold above the 50 moving avg and the candle wicking down yet bouncing up quick to keep respecting vwap was my confirmation.
There I added tier 1
once the move held up in its consolidation range around .68/.70 range.
I added tier 2.
Once we retested the 20 day moving average i covered half a lot in case we failed from there.
upon the break out above the 20 day moving avg again i held to watch the action. Large time and sales orders have been flooding moslty green all day and it was now as well, for sure.
ZOM made continuous more five min highs from there for about 40 min.
it by this time we are approaching the .80 mark. interesting!
I covered 2nd half lot into a pre market 20 min consolidation area.
I covered 3rd half lot into the next candle up around .78 incase 80 cents fails.
I covered final lot into .79

What i could do better:
I will consider holding 25% of my position once my trade is working to see if it REALLY keeps working and sell on the breakdown of that pattern not neccersily into the pattern out of fear.
Also I could check news better.