CDLX Trade on Apr 4, 2023 11:31 from BanalityOfEvil: Tradervue User Stock Trades.

Play
Scalp + Intraday Trend Continuation

Catalyst
Fresh News

07:37:38AM
CDLX
CARDLYTICS RAISES Q1 REVENUE GUIDANCE FROM $54M-$63M TO $63.5M-$66.5M

BZ Wire
07:37:28AM
CDLX
CARDLYTICS, INC. GENERAL CORPORATE STATEMENT (FORM8)UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, DC 20549 FORM CURRENT REPORTPursuant to Section 13 or 15(d)of the Securities Exchange Act of 1934Date of Report (Date of earliest event reported):

SEC
07:30:00AM
CDLX
CARDLYTICS ANNOUNCES UPDATED GUIDANCE FOR FIRST QUARTER 2023 FINANCIAL RESULTS

Trade Idea
Price could continue to 6.78 or higher by market close

Setup Quality
A
- A+ news
- Low Float
- Possible short squeeze (short float over 15%)
- Clean Daily Targets at 5.20, 5.88, 6.78, 7.41
- premarket support from 5
- volume profile bullish intraday
- largest volume day in company history
- Market breadth is weak, but every time $TICK moves sharply down, CDLX is getting long volume
- Heavy bot presence; time and sales not matching up with L2, looks choppy but price is not giving up trend/vwap/levels

Plan
was not at desk this morning. Sat down after 11am and saw price was already testing 6 so I decided to scalp the break of 6 and then try and hold a core, adding into the next test of vwap as long as price held 5.25 (daily support from beginning of March) for a move to 6.80

Stop(s)
Sell half if price breaks below 5.25 (Daily Support)
Full stop on intraday swing was a break below premarket high of 4.95

Reasons to Sell
stopped out
target hit
price is struggling to move higher
Trend is broken (start of backside)

Executions and Price Action
- Scalp went according to plan
- Swing went according to plan but bot presence was heavy and price action was choppy; levels holding so no R2S
- Took 1/2 profit @ HOD and @1:15pm as price was approaching target, 1,000,000 (+) shares sell order was executed in a dark pool and price spiked .50 then dropped .70 (WOW)!
- Price consolidated and began to recover, tape and L2 way out of sync, thick with bots, NASTY!!!!
- Price recovered but did not look like it would break 6.50, plus I was afraid that another whale sized order would wreck the trade so I took profit.
- Price moved to target but another dark whale order smashed price back down another .70

Key Takeaways
- Change Full stop to a break and hold below daily support 5.25 in this case, premarket high did not carry a lot of weight in this setup and I could have lost more than 1R
- Good job letting it breath. This needed room due to all the bot activity. Kept daily levels in mind and did not get flustered.
- Good target selection
- Consider getting larger around consolidation levels when symbol is thick with HFT and volume is so high
- Continue to monitor market breadth during longer term trades like this

Multiple Timeframes

Market Breadth