SIG Trade on Jan 17, 2019 09:56 from math_psycho: Tradervue User Stock Trades.

TICKER: SIG
BIAS: NEUTRAL
SUPP: 22, 23
RES: 25.50, 26.25, 28
GAP%: -19
AVGV: 1.5M
ATR: 1.94
FS%: 12.92

NEWS: Signet Jewelers (NYSE:SIG) reports same-store sales were down 1.3% during the nine-week holiday period. The retailer revises Q4 same-store sales guidance to a range of -1.6% to -2.5%. EPS for the quarter is expected to be $3.77 to $3.92 vs. $4.44 consensus. Looking ahead to FY19, Signet anticipates flat same-store sales and EPS of $3.53 to $3.69.

TRADING PLAN: SHORT GAP DOWN BREAKOUT or SHORT GAP DOWN PULLBACK or GAP DOWN BOUNCE LONG. Look for a short opportunity through premarket lows with a quick scalp target at 5:1 R:R. Also look for good short entries on pullbacks into resistance at 28, 28.75, 30 on a pop. Also look for buyers stepping in above $27 and holding for the larger bounce back up to $28.75.

NOTES: The stock has sold off from September highs of $70 down to the $28-29 level. It is showing relative weakness and should be a short at some price today, it is just a matter of being flexible here. The stock sold off hard in the premarket down below $28 and into $26. It opened near $28 and continued selling early down to the $25.50 level where I noticed a refreshing buyer that seemed able to absorb all the shares that the sellers could throw at them. I decided to play the GAP DOWN BOUNCE LONG idea and put a bid in at $25.72 after the stock bounced up without me to above $26. I thought this was the patient thing to do and I am happy with this entry for a $25.49 stop. The stock played between $25.50 and $26.10 for most of the morning and decided to exit for even due to this capitulation. My profit target was up around a test of the $28 mark.