Stalking this for a while. Got very tight between 9&20SMA@daily that they were about to cross each other. It was rejecting R1=$19.6 for 7-consecutive days. Above R1, next stop at R2=$21.3 with major supply sitting above.
Premarket plan was to get "long" only if it cleared and held above R1, for the move to R2.
Played well. Opened strong and rallied into R1=$19.6 (RVOL > 1.5), did a quick pullback and then pushed again.
Got long Tier 0 as it pushed thru R1=$19.6 on increased volume, risking bottom of pullback $19.2, expecting the move to R2=21.3.
Sold some into the quick pop to $20.5, which I reloaded mid-session as buyer stood up twice at $20.1 area + VWAP, risking tight stop below whole number for the add, expecting the push to target.
Couldn't push thru HOD convincingly, so I sold the add and some more core before close.
Holding 40% of core-size as swing long, target R2=$21+, stop below $20, as:
-- green on the name
-- having sold > 50% of size
-- strong close at HOD
-- Nice Day I candle on increased volume.
QQQs were taking a beating, so decided to get flat at the pop towards $21.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-04-13 10:21:47 | SUMO | buy | $19.700 | long |
2021-04-13 10:45:25 | SUMO | sell | $20.250 | long |
2021-04-13 13:00:43 | SUMO | buy | $20.270 | long |
2021-04-13 14:26:37 | SUMO | sell | $20.500 | long |
2021-04-13 15:07:55 | SUMO | sell | $20.630 | long |
2021-04-13 15:30:41 | SUMO | sell | $20.540 | long |
2021-04-14 09:58:20 | SUMO | sell | $20.890 | long |
2021-04-14 10:16:48 | SUMO | sell | $20.770 | long |
2021-04-14 10:16:53 | SUMO | sell | $20.730 | 0 |
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