PLAY offered two very good risk-reward buy opportunities for day trading or even to hold for a swing trade if enough profits were already made by the end of the day. In the chart image below (on a 2-minute timeframe), you can clearly see two opportunities:
- A large candle formed after consolidation above the VWAP (indicated by the orange line). Buying at the indicated point offered a potential 3.2% intraday gain.
- A bigger candle than all the previous ones, preceded by a reversal candle. With a tight stop, a 1.5% gain was possible to catch.
Did PLAY have any catalysts to keep an eye on?
No, it did not have any catalysts. The best way to catch this move was to have an alert set at the price close two days ago, which was $13.15
