115.07M float/6.20% short float/69.10% institutional
Down after CEO's stupid comments. Premarket sellers at 98$, buyers were seen at 96$. Technical key support at 95$. Bid from $KO at 80$, prior breakout spot 89.50$. Stock looks weak on the daily.
Stop: 96$
R: 10
Trade of the day.
96$ was the level that got bought premarket and I shorted a feeler as soon as it broke down. right at the open. I scaled half at 1:1 as soon as bids started to firm up, but re - added right away into a pullback of 95$, the level on the daily. I scaled a little into support and closed as soon as volume picked up.
Second trade was a pullback trade and I still have trouble to find an exact entry, since I never know which resistance is going to hold. Line in the sand was 96$ and I managed to wiggle myself into a short by starting small, average into it and scalp the core in order to improve my average price without adding too much risk. I failed to add into the final push into 96$, cause it really looked scary, so my average was too low to really hold onto the trade.
Nevertheless a small 40ct winner.
Execution detail:
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