PLAY
VVOS – Gap n’ Go
CATALYST
07:30:00AM
VVOS
VIVOS THERAPEUTICS RECEIVES FDA 510(K) CLEARANCE OF ITS FLAGSHIP DNA ORAL APPLIANCE FOR TREATMENT OF OBSTRUCTIVE SLEEP APNEA
TRADE IDEA
VVOS could touch 1.90 and possibly 2.26 on the open
SETUP QUALITY AND VARIABLES
A
• Fresh “A” quality news
• High RVOL but trading thickly in premarket, lots of bots in here
• POC + R2 @ 2.26 on the daily
• Low float 18M shares
• Clean gap over $1, some resistance at 1.55, next target is 1.90
PLAN
Get long in premarket above early hours high @1.40 in consolidation with plan to hold into the open. Sell 80% @ 1.90 since this is a major resistance level and hold 20% for a bigger move. Secondary target in mind is 2.26 since this is area of control. Stop is break and hold below 1.30
REASONS TO SELL
• Price does not hold 1.40 going into the open
• Targets hit
• Trading too thickly to lift
• Stopped out
EXECUTIONS AND PRICE ACTION
@9am got long
@9:17 sold 80% because it looked like 1.60 was not going to lift; some resistance here on the daily
@9:29 sold ½ .10 below R2
@10am & 10:06 sold runner into halts
KEY TAKEAWAYS
• Turned a potential 10:1 homerun trade into a 1:1 trade because I did not like the way the stock was behaving. Scale out more slowly next time if the price action is not moving exactly how you want to see it, leaving a little more size on just in case it does go. You were not at risk of stopping out and had nothing to lose.
• Nice medium sized profit but could have been a real homerun
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2023-01-04 08:58:45 | VVOS | buy | $1.490 | long |
2023-01-04 08:59:48 | VVOS | buy | $1.430 | long |
2023-01-04 09:16:08 | VVOS | sell | $1.660 | long |
2023-01-04 09:16:08 | VVOS | sell | $1.660 | long |
2023-01-04 09:16:08 | VVOS | sell | $1.660 | long |
2023-01-04 09:29:58 | VVOS | sell | $2.080 | long |
2023-01-04 10:00:56 | VVOS | sell | $2.250 | long |
2023-01-04 10:00:59 | VVOS | sell | $2.250 | long |
2023-01-04 10:01:00 | VVOS | sell | $2.250 | long |
2023-01-04 10:11:34 | VVOS | sell | $2.550 | 0 |
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