MULN Trade on Mar 17, 2022 08:03 from BanalityOfEvil: Tradervue User Stock Trades.

PLAY

MULN – PREMARKET SCALP for Multiday Swing

CATALYST
MULN has been in the eye of traders and growth investors. Mentioned by yahoo finance this morning.
5:00:00AM
MULN
MULLEN AUTOMOTIVE FEATURED BY YAHOO FINANCE LIVE

TRADE IDEA
MULN could move to $5 by next week, showing some momentum today
Key areas - $2, $2.75, $4, $5
Main target is $2.75
Stop is Break and hold below $2
R2S - price target reached or stopped out

SETUP QUALITY
A

BIG PICTURE
• Fresh news
• Beaten down
• Social attention
• Float 20M & 4M reported on separate data providers
• Short Interest 9%
• ATR .50
• Volume spiking since end of FEB
• SPY trending higher, testing top of previous range (420-440)
• VIX lower into the 20’s (putting individual names back in play)

PLAN
Enter in premarket on break and hold of $2 area, scalp ¾ of position into strength around $2.15 area, and add as much as possible for a multiday swing to above 2.75 area

EXECUTIONS AND PRICE ACTION
March 17th - Day 1
@ 8:03 got long full size 1000 shares, almost 100% of daily BP
@8:17 sold 750 shares as planned just below target and added 50 shares on dip, BP maxed out, to hold 300 shares until r2S

March 18th - Day 2
Price consolidated in premarket, not making the gap scanner, and not getting much attention in BZ chatroom, but on the open the price moved steadily higher with some algo participation, which told me that big money was participating in this for a longer time frame swing. This could also be a sign that larger investors may now be willing to participate in growth names that this and some momentum may be returning to small cap names.

@10:02 took 1/2 of position off the table into strength
@11:07 took final lot off at original price target

KEY TAKEAWAYS
• great job spotting this and committing
• when I have more BP, add more size after the initial scalp if applicable

MULN may trend to 5, but I captured the meat of the move and followed my plan. Keep it on watch moving forward

DAY 1

DAY 2

SPY

VIX