Shared by
beno
Fundamentals
-S-3 for $100M
-Prospectus for shelf above for $16M
-Float = 16M
Catalysts / News / Painting the picture
-Sep 23 2020: Launches New Electric Vehicle Company Subsidiary
-Oct 05 2020: 13G Filing From Empery Asset Mgmt. Shows New 5.55% Stake
-Oct 15 2020: Advances EdisonFuture Electric Vehicle Subsidiary Through Strategic Agreement With Shaanxi Tongjia Automobile Co., Ltd.
-Jan 21 2020: Running on Energy sector sympathy from Biden inauguration
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Bull Flag
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: B grade FT-15 long of 11.5
Confluence: Half $, 1m-JL
Strike Zone: 11.75 - 11.45
Sizing (lots + emergency): 500
Risk (stop / Rs): Hold below 11.5
Review / Lessons Learned
Tape was just not behaving how I envisioned after I got in, traded very thinly with not much demand on the bids, cut it for -0.25R. I could have gotten back in at 11.4 but I feel like the tape action made it so it wasn't worth my time anymore, it did pop to 11.8's but all we got is the 50% retrace target and nothing more, best to avoid. -0.25R
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-01-21 13:41:24 | SPI | buy | $11.660 | long |
| 2021-01-21 13:41:24 | SPI | buy | $11.670 | long |
| 2021-01-21 13:41:24 | SPI | buy | $11.665 | long |
| 2021-01-21 13:51:54 | SPI | sell | $11.630 | long |
| 2021-01-21 13:51:54 | SPI | sell | $11.620 | long |
| 2021-01-21 13:51:54 | SPI | sell | $11.621 | long |
| 2021-01-21 13:51:54 | SPI | sell | $11.621 | long |
| 2021-01-21 13:51:54 | SPI | sell | $11.620 | 0 |
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