Stock Selection Information
IPO today.
Price reference - 22.00 - 25.00
Shares - 53,191,489
Offer Amount - $1,529,255,300
**Daily picture not relevant
Watch List Reason - IPO
Price reference - 22.00 - 25.00
Shares - 53,191,489
Offer Amount - $1,529,255,300
**Daily picture not relevant
Pre-Market Volume - N/A
Trading Plan - To go long if price is above the reference levels.
Management
Entry Setup used: Momentum play with tape reading.
Trading Comments
The stock had opened below the reference prices and I was looking it trade around the 18.00. It should´ve drop this level, but did not. I could see the buying pressure on the way up. It tested the 18.25 once and failed it. On the second test, it broke above with good volume and I got in at 18.26. Tape reading skills helped me to take the trade on a momentum setup.
When momentum was over I closed the position.
When momentum was over I closed the position.
Evaluation
The entry and execution of the trade was fine. This is how I like to trade, stocks with fast prints and momentum. Lately the market is not showing this movements pre-market, so I´ll need to adjust my opening strategies.
Also I could´ve stick to the stock and find other entry points in the stock.
Also I could´ve stick to the stock and find other entry points in the stock.
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