Yesterday looked like it was going to roll-over towards $307, but held. Today, gapped higher premarket on J&J vaccine news, reclaiming 9&
Thru R1=daily resistance pivot/inflection point=$332 and could easily see R2=major daily resistance level=$339. Above R2, next major daily resistance at R3=$355.
Opened strong (RVOL>1.2) and moved quickly thru R1=$332. Didn't want to FOMO-buy the break-out in a weak/broken momo stock, so I sat tight, and put bids $332-333.2 area hoping for a pullback.
Which I got mid-session. Bid didn't get hit at the 1st flush thru VWAP to R1=$332 for 10c:/, so after higher low in-front of R1 and VWAP remount,
got long Tier 0, risking below R1=$332, expecting retest of HOD.
Amazing 2nd leg higher. Realized the strong tape, so sold small in-front R2=$339, holding size for higher prices. Offered more $340+.
Holding about 20% of size as swing long, target $350+, stop $33, as:
-- green on the name
-- sold more than 50% of size
-- very strong close at HOD, above R2=$339.
-- Nice Day I candle on increased volume.
Brutal rejection at the 9SMA@weekly chart (sitting at $344-345 area). Could have stopped out $2 higher, once it lost LOD.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-04-13 12:06:47 | ZM | buy | $334.050 | long |
2021-04-13 12:12:10 | ZM | buy | $333.960 | long |
2021-04-13 12:36:02 | ZM | sell | $336.490 | long |
2021-04-13 12:46:53 | ZM | sell | $338.280 | long |
2021-04-13 13:56:35 | ZM | sell | $341.510 | long |
2021-04-13 15:31:18 | ZM | sell | $341.690 | long |
2021-04-14 10:17:43 | ZM | sell | $336.200 | 0 |
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