Trade Review - C - April, 15

Stock Selection Information

Citigroup (C): Q1 EPS of $1.29 beats by $0.13. Revenue of $20.8B beats by $0.65B. Shares  +1.5% AH. (PR). Earning today before market open, put´s the stock in play.

Watch List Reason - Earnings Before the open

Pre-Market Volume - 7.30%

Trading Plan - Sup @ 44.25 | Res @ 45.50 on a 15 minute range

Management

Entry Setup used: Consolidation Fail Break | Support play | Fail break down @ support

Trading Comments

By watching the tape just after the market open, one could see that the buyers were present and trying to hold ground. When the prices are falling but too many green prints, people are paying the offer. It took me 2 stops to get the right side and the right time. When big bids start to appear, get taken and price does not fall, it is a sign the stock will move up. 

Evaluation

There was a lot of buying and selling but market was having trouble moving. The fight was very intense and it was not a very easy stock to trade. It was very strange and this could mean a longer time frame change of control (to be confirmed).
The first two trades I try to take advantage of some momentum that did not happen.I had seen the buying preassure, but was a bit off on the timing. After reviewing the tape, I got in because I saw a big buyer coming in the bid. When he dropped I should´ve get out. My first stop would´ve been .45.96 and not 45.91.
Finally on the third try I got it right.
I did a great job reducing the position to control risk and as the position start to work, I added to it. This was a very good strategy and the skill I am working harder to learn.