Cardlytics Inc. Stock Forecast
Cardlytics Inc. stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The Cardlytics Inc. stock price fell by -1.97% on the last day (Thursday, 18th Apr 2024) from $12.18 to $11.94. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 4.31% from a day low at $11.84 to a day high of $12.35. The price has fallen in 6 of the last 10 days and is down by -8.65% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -223 thousand shares and in total, 635 thousand shares were bought and sold for approximately $7.58 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.78 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 77.02% during the next 3 months and, with a 90% probability hold a price between $20.85 and $40.70 at the end of this 3-month period.
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CDLX Signals & Forecast
There are few to no technical positive signals at the moment. The Cardlytics Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $12.99 and $12.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -41.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Cardlytics Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.510 between high and low, or 4.31%. For the last week, the stock has had daily average volatility of 5.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CDLX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cardlytics Inc. to open at $12.04, and during the day (based on 14 day Average True Range), to move between $10.67 and $13.21, which gives a possible trading interval of +/-$1.27 (+/-10.60%) up or down from last closing price. If Cardlytics Inc. takes out the full calculated possible swing range there will be an estimated 21.19% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $13.60, some $1.66 (13.90%) from the current price of $11.94, our system finds the risk reward not very attractive.
Is Cardlytics Inc. stock A Buy?
The Cardlytics Inc. stock holds several negative signals and despite the positive trend, we believe Cardlytics Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.638 Sell Candidate Downgraded
Predicted Opening Price for Cardlytics Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $12.04 ( 0.87%) | $11.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDLX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.55 | 5.14 % | |
| R2 | 12.36 | 3.51 % | ||
| R1 | 12.24 | 2.50 % | ||
| Current price: | 11.94 | |||
| Support | S1 | 11.85 | -0.766 % | |
| S2 | 11.73 | -1.77 % | ||
| S3 | 11.53 | -3.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.64 | 22.61 % | |
| R2 | 14.50 | 21.44 % | ||
| R1 | 13.60 | 13.90 % | ||
| Current price | 11.94 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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