USEA, TBLT, GOEV, & NEXI
USEA
There were 4 tickers I had on watch today but only traded USEA. I had limit orders on TBLT & NEXI that did not get filled because the price didn’t reach my limit order. Those two stocks in particular along with GOEV would have been trades according to my strategy because of the entry points.
USEA was a low float with a market cap of 9.2M and traded 104M shares by the end of day. It was a first green day after 3 red days. There was some resistance around $7.30 and it looks like it reached a high of $7.39 on the day and then had a lower high and started to fade. I saw what I considered support around $4 based on pre market levels but come market open it didn’t pullback to that price so I didn’t get an entry. It just sorta shot straight up. It then had a pull back about 7 min after market open and there could have been an entry based off VWAP. Then it started to spike again. At this it spiked up and I wanted to get in on the second pullback I saw based off 6.30 support but it broke it. I was definitely chasing the stock at this point. This trade is not according to my strategy at all. My entry should have been after market open on a pull back to support or LOD, but the stock didn’t offer that opportunity. It only offered the opportunity with an entry off VWAP and I didn’t take it.
Since it was so overextended I decided to lower my share size to 200 shares instead of 500 or 1000. I was a bit annoyed that I didn’t get filled on the other two tickers that preformed well. I entered at $6.30. I expected it to drop and get a fill based on a wick breaking support and holding above. It broke support by a wick but the very next minute it broke support with a closed body candle. This was going to be a scalp trade for 50-70 cents based on the volatility of the stock but it broke support so I got out at $6.16 and lost 26$. It was a mental stop loss as well so I am happy with the exit. After my exit, it kept dropping until it finally reversed and set a new high then faded the rest of the day. This would have been an amazing stock to trade if it had a pullback right at market open.
KEY POINTS ON USEA
ENTRY 6.30 / EXIT 6.16
SHARES 200
LOSS $26
MARKET CAP 9.2M / SHARES 1.5M / VOLUME 104M
TBLT
I set a limit order about 15 min after market open, right after I saw it test support and hold it. BUT I didn’t get filled. It just spiked it after. I was expecting a 20 cent move if it held support. Apparently it was a 58 cent move which was amazing. See chart below! I don’t believe it had news on the day and it did have resistance around $3.30 from about 15 days ago. It was just price action.
KEY POINTS ON TBLT
MARKET CAP 5.6M / SHARES 2.1M / VOLUME 21M
BOUNCE OFF SUPPORT
NEXI
I had a limit order that didn’t get filled on this stock because it didn’t reach support. It did have a lower high which could have been an entry or immediately right after. It broke it’s pre market high and then set a lower high and started to fade for the rest of the day.
KEY POINTS ON NEXI
MARKET CAP 42M / SHARES 22M / VOLUME 57M
GOEV
KEY POINTS
MARKET CAP 1152M / SHARES 269M / VOLUME 55M
