CAG Trade on Dec 19, 2019 14:25 from Cklamb: Tradervue User Stock Trades.

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Cklamb

 

CAG
Intraday Fundamentals
• Shares of Conagra Brands Inc. (CAG) shot up 7.9% in premarket trading Thursday, after the branded foods company, which brands include Birds Eye, Slim Jim , Healthy Choice and Reddi-wip, beat fiscal second-quarter profit and revenue expectations and raised its full-year outlook. Net income for the quarter to Nov. 24 rose to $260.5 million , or 53 cents a share, from $131.6 million , or 31 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS was 63 cents , above the FactSet consensus of 57 cents . Net sales increased 18.3% to $2.82 billion , beating the FactSet consensus of $2.80 billion . The company said it updated its fiscal 2020 outlook, primarily to reflect the divestiture of its DSD snack business. Conagra raised its sales growth guidance range to 13.5% to 14.0% from 12.4% to 12.9% and its adjusted EPS guidance range to $2.08 to $2.18 from $2.07 to $2.17 . The stock has lost 2.1% over the past three months through Wednesday, while the S&P 500 has gained 6.1%.
Technicals
ADV 4.16m RVOL 1.33 ATR .60 BETA .83 Short 5% Inst Own 90.3%
Daily

Hourly

Intraday

Trading Strategy
• This seems to sell off at the open on earnings and then make the move to the HoD
• Look to long this off 30 if it can flush to that
Reading the Tape

This tape was pretty easy to read during the run up to the HoD. You could see the price get pushed below certain level and push higher and then come back in a little higher and then burst higher again. It was methodical.

It was harder to tell exactly when this pattern ended as this had consolidated tightly a couple of times earlier in the opening. I would not say that the tape got weak but I got back to trying to short as it was clearly not as strong.

Trade Management

Review Notes
• I need to figure how to be a little more patient in some areas
• I did manage to set up a couple of trades that were easy to let run to target.
• The bounce of VWAP midday could have been managed for a longer run with less executions
• This seemed to tight but I was just too anxious

image


Execution detail:

Date/time Symbol Side Price Position
2019-12-19 14:25:47 CAG sell $34.480 short
2019-12-19 14:26:32 CAG buy $34.430 short
2019-12-19 15:07:11 CAG buy $33.920 0
2019-12-19 15:17:20 CAG sell $34.192 short
2019-12-19 15:17:49 CAG buy $34.160 short
2019-12-19 15:19:15 CAG buy $34.170 0
2019-12-19 15:20:01 CAG sell $34.110 short
2019-12-19 15:20:29 CAG buy $34.074 0


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