Shared by
beno
Fundamentals
Shares Outstanding: 54,815,202
Cash: $345.1m
Current liabilities: $111.36m
Current ratio: 3.75
NWC (total current assets - total current liabilities): $307m
Monthly Burn rate (net loss / months): $33.43m
Estimated current cash: $295m
Accumulated deficit: $2144m
Book value per share (Stock holder equity / Shares outstanding): $-1.6
Catalysts / News / Painting the picture
-Earnings: Q3 loss but beat on revenues
-Clovis Oncology’s Rubraca® (rucaparib) Granted FDA Priority Review for Advanced Prostate Cancer
Technical Analysis
-SPY pattern: Fade
-Intraday pattern: Mountain
-Levels: 9, 9.5, 10, 10.3 10.6
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 10.30 level
Confluence: N/a
Strike Zone: 10.25 - 10.31
Sizing (lots): 2
Risk (stop / Rs): 10.14 (below prior swing low)
Review / Lessons Learned
It didn't bounce after 3 minutes so I added an emergency lot in the low 10.20's.
CLVS tried to break above the low 10.20's several times and couldn't, after the 5th time (ish) I stopped out when it got rejected again and the 10.15 bids were up because it was the first time that 10.15 bids were the best bids since the breakdown started.
It was a good stop!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-12 13:01:33 | CLVS | buy | $10.340 | long |
| 2020-05-12 13:01:35 | CLVS | buy | $10.340 | long |
| 2020-05-12 13:01:46 | CLVS | buy | $10.310 | long |
| 2020-05-12 13:01:53 | CLVS | buy | $10.310 | long |
| 2020-05-12 13:04:13 | CLVS | buy | $10.197 | long |
| 2020-05-12 13:04:13 | CLVS | buy | $10.200 | long |
| 2020-05-12 13:10:56 | CLVS | sell | $10.160 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!