DATS Trade on Mar 28, 2022 09:27 from BanalityOfEvil: Tradervue User Stock Trades.

PLAY

DATS – OPENING DRIVE

CATALYST

8:00:00AM
DATS+1
DATCHAT TO LAUNCH METAVERSE ADVERTISING AND NFT MONETIZATION PLATFORMNEW BRUNSWICK, N.J., MARCH 28, 2022 (GLOBE NEWSWIRE) -- DATCHAT, INC. ("DATCHAT" OR THE "COMPANY") (NASDAQ:DATS), A COMMUNICATIONS AND SOCIAL MEDIA COMPANY THAT GIVES USERS THE ABILITY TO COMMUNICATE,
GL

TRADE IDEA

DATS COULD TOUCH 2.80 ON THE OPEN

SETUP QUALITY

B – chart is not that technically clean on the daily, but this space has some interest right now and price has gapped up and is holding strongly over $2 in premarket

BIG PICTURE
SPY holding 450
VIX over 20
Fresh news
Low float

PLAN
• Put on a feeler into the opening bell, ¼ of position, add to full size if price breaks over 2.20 with confirmation, sell 80% @ target, leave runner for larger possible multiday move.
• Reasons to sell – price does not move aggressively in my favor as anticipated
• Target is reached
• Algo presence begins to dominate
• Stopped out under 2.20

EXECUTIONS AND PRICE ACTION
@9:27 put a feeler trade on in premarket small size
@9:30 did not buy opening print, looked for price to break and hold over 2.20 area, tape is not as quick as I wanted it to be so did not go to full size
@9:33 added another lot, but quickly sold 80% because a lot of algos were printing on the tape and price was not moving away from my level as quickly as I would have liked. Decided to take some profit.
@9:35 premarket high was broken, added back small size
@9:37 took some more ½ position off for small scalp at major support 2.50, tape really dragging, not much conviction for a big move at this moment
@9:45 lightened up another half, could be a consolidation, but algos are heavy and tape is slow… plus furniture delivery has just arrived at my house early I need to step away from desk
@9:48 auto stopped out @price average

KEY TAKEAWAYS
• nice job using the tape to determine sentiment for larger move
• since trade was interrupted my early delivery by movers, good job managing risk with stop... price moved to target, gave up about 1/2 point of profit.