Nov. 9 at 4:54 PM
$CDLX - Cardlytics Inc faced a significant full gap down this Thursday, opening at a striking 37.9% below yesterday’s close. Even with a minor 3% backfill achieved today, the sheer size of the gap presents a challenging scenario for gap traders aiming for the usual 0.5%-1% profit. The odds stand at 63% for the gap to fill today, which, given the gap's extent, seems optimistic.
The stock opened trading at
$8.52, a steep decline from the previous close of
$13.72, and has reached a high of
$8.65. However, it has also dipped to a low of
$6.1, with its current price slightly higher at
$6.79. With Monday being the best day for CDLX’s gap fills, the 84% odds of the gap filling in the next five days may provide a silver lining for traders looking ahead.
Investors may find solace in the higher likelihood of a fill within the coming days rather than today. With an overall 70% chance of the gap filling at some point, patience might be required.
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