This was intended to be a quick scalp trade w. covering into the move to cover my risk. I entered on a break of the early morning high of $3.03(9:49am candle was the early high) which was a trigger in my plan that buyers would step in and a sign that buyers were in control. Buyers were hitting the offers (confirmed by tapes speed and volume). There was over 1Mill shares traded on the 1 min 9:50am candle. Volume on pull backs were not as much. The market met resistance failing to break over $3.30 level. and then faded and held $2.60's during the midday lull. My thought was that this stock will be in play later and potentially break the midday lulls intraday resistance of $2.94 before going on to break the early morning high of $3.30 and then potentially even breaking the whole number of $4. There was no apparent news or release on $SBEV today but on Tuesday 1/11/22, the company announced that it received authorization to sell its Tapout performance drink in Florida, beginning w. 47 Walmart stores located in Major Metropolitan regions.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-01-14 09:50:49 | SBEV | buy | $3.159 | long |
2022-01-14 09:51:05 | SBEV | sell | $3.220 | long |
2022-01-14 09:51:18 | SBEV | sell | $3.210 | long |
2022-01-14 09:51:51 | SBEV | sell | $3.158 | 0 |
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