DCFC Trade on Feb 9, 2022 08:23 from BanalityOfEvil: Tradervue User Stock Trades.

DCFC – Premarket scalp with MOMO Potential - 2nd day play

Big Picture

Spy holding 450 premarket, market showing some follow through this week, VIX around 20. Higher float 150M, RVOL 1000x, ATR (.80ct)

2nd day play trending in premarket, breaking yesterdays high of day, volume expanding, flagging, wedging in premarket

Tritium (NASDAQ:DCFC) stock charging higher on Tuesday after the company revealed the location of its next U.S. manufacturing factory.

Plan

Watch tape for signs of capitulation around technical levels, scalp into a core for a break of all time highs, adding momentum lots and taking profits quickly into strength, holding a core until r2s, possible T2H

Executions

@8:23 entered feeler size 100 shares on volume spike and break of premarket high, looking for move to 12

@8:29 doubled position - added for break of new high

@8:32 sold ½

@8:34 added for break of high – PA $11.75 – stop @ 11.50

@8:50 a lot of topping tails on the 1 min. lower highs, but higher lows holding 11.50 on lighter volume

@8:52 sold 1/3 for break of ATH, sold ½ @ 12:40 to take remove risk, leaving 100 share runner, stop at break even 11.75 PA

@ 9:13 sold full position, tape slowing, volume dropping, and topping tails forming, float is high, price already up 2.5 ATR (.80), and selling will put me in the green for the open.

After the opening bell, if trading, look for pullback to 12.20 premarket pivot before considering another long. The key to trading this market is to recognize the bottom, and get long on confirmation of reversal.

Key Takeaways

Consider holding core longer and into the open if you have established a cushion, have a good price average, and the markets continue to shows signs of strength. I just wasn't quite ready to trust the overall markets yet today, and was planning on taking profits quickly.

Chart after the bell, went LU