TEN - Dec 24 100SMA StrongWeak Bounce

Dec 10, 2024

TEN

• Sector: Oil & Petroleum Transport, Energy, Tanks
  [* Stagnant revenue, with EPS dropping by 47% vs previous quarter
  
• No insider filings recorded on Finviz
  
• ADR 3.47%
  
• Short Interest: 1.61%
  
• Does it respect the H1 100SMA (Min 3Months): Yes
  
• Is it a Hype Thematic (AI, Solar): No but this is a cyclical sector. I noticed a number of other shipping companies are facing similar bearishness. So this softness might be part of the cyclical phase.
  
• - Other tankers in a similar bear territory - INSW, FRO
  
• - 11 Nov seekingalpha.com/news/4274788-shipping-markets-hit-ytd-lows-led-by-tankers-and-gas-carriers-clarksons

• 100SMA StrongWeak Bounce 🏀 (0.5R) v1.0
• Trading risk at 0.5R as we are testing this strategy
  
• This trade model is based on us riding the 100SMA trend waves of the strongest and weakest companies. It only executes well when greater force (RUT & SPX) is trending. Entries are at greater force key levels when it is consolidating. When greater force is taking off it is too late.
  
• Entry
  
• Within Stdev 100 zone
  
• SL = ATR14 * 2 (Run full course no early exits)
  
• Trailing stop (Previous Day Low or high)
  
• Price launch off (D1)
  
• D2 Closes
  
• D3 Move SL to D2 Low
  

Dec 11, 2024

Trade active

Entry Scaling 0.4R from PAC profit. Calculated the risk using the same SL as the parent trade

Dec 13, 2024

Trade closed manually

Closed trade as TEN was stalling and price action showed a strong bearish candle pattern