BOF Trade on Apr 24, 2024 09:37 from Rad_Trader: Tradervue User Stock Trades.

Trade Review

Play: Gap and Crap Reversal on a consumer defensive stock with a contract win

Big Picture:

• PR at 8:00am with a news on a contract BranchOut Food Announces Third Contract with Nation's Largest Retailer, to Total $8M in Annualized Revenue
• It's first high was $1.75 before almost pulling all the way back to where it came from, hit a low of $1.35. The premarket high was $2.39
• It consolidated after the high in the low $2s and high $1.80s
• Traded 9.2 mil vol in premarket, looked like a fade squeeze on the daily, shorts covering

Scanner:

• SPY finally having a reversal and some green days, holding green in premarket for now
• Top percent gainer was BOF
• Second top percent gainer was CSSE (was a beautiful fader squeeze)

Technical Analysis:

• Float: 3.26 mil
• Support: $1.69
• Resistance: $2.14 and $2.39
• Dilution: No registered dilution

Intraday Chart:

Thesis for the trade:

Was holding up nicely in premarket, nice little fade and consolidation on the first high in premarket, was looking to risk off the low near that support level

Trade Management:

Maybe was in a little early, GnCR haven't been has hot and jumped the gun a little, small size and stuck to my risk level, wasn't a bad trade, just a timing and got wicked out

Price Target(s): $2.14 and $2.39

Stop: $1.70

What Do I Need to Improve:

Just letting things setup better, this was a 15-min reversal so keep that in mind for the next one

Did I stick to my plan/risk or move my risk mid trade: Stuck to my risk