RDZN Trade on Jul 1, 2024 16:16 from PeterDragon: Tradervue User Stock Trades.

Roadzen, Inc. operates as an insurance technology company. It offers auto insurance services through artificial intelligence technology.

Technology/Software - Application/USA/NASD

VIX 12 All day decline

SPY 545 Closed even

QQQ 481 Mid-day recover

MARKET CAP 110.87M

OPTIONABLE N

SHORTABLE N

P/E 29.94

INSIDER OWN 75.03%

INST OWN 7.16%

SHS OUTSTAND 68.44M

SHS FLOAT 17.09M

SHORT FLOAT 0.11%

SHORT INTEREST 0.02M

52W RNG 1.55-17.00

RVOL 2.7

AVOL 162.42K

BETA .62

ATR .43

SUPPORT Hit all time low during the day at 1.55

RESISTANCE 3, 3.75, 5

INFLECTION

BIAS Long

 

News - FY24 EPS $(2.26) Vs $(0.86) YoY; Revenue $46.7M Vs $13.56M YoY

 -- Full year revenue of $46.7 million, up from $13.5 million in the prior year, a 245% increase.

 -- Net loss of $99.7 million is impacted by non-cash, non-recurring and extraordinary items, resulting in an Adjusted EBITDA1 loss of $10.4 million, a 5.1% increase over last year.

  -- As of market close on June 28, 2024 Roadzen was included in the Russell 2000(R), Russell 3000(R), and Russell Microcap(R) indexes bringing new institutional shareholders.

Strategy

Seen hit scanner after the close. Increased volume and % percent gain. 10 minutes after news hit seemed extended and losing steam. Wait for a pullback to get an entry to risk off of. Overall stock looked beaten down with no substantial resistance so assuming half and whole dollars.

  

Trade

Pulled back below the 9 EMA and quickly reclaimed after a 6 minute down move. Entered Lot 1 as a feeler when broke back above the 9 EMA. Expected additional volume to start pouring in based on news timing which didn't really happen.

Lot 2 added on second break above the 9 EMA. Risking both lots off of VWAP, 20c. Stock did hold above VWAP.

Added lots 3-5 when 1 minute candle made a new high to prior red candle.

Sold Lot 1 when I felt TS was slowing down and time. About 20 minutes into trade.

Sold Lots 2-5 when it looked like it was going to roll over and was retesting the 9 EMA.

Trade Review

Lots 1, 2 poor trade entry. Felt like FOMO trades when they started to go against me.

Lot 3-5 were good trades and met my rules of entry.

Exited well but did not have a pre-established exit strategy at first entry. Stop should have been tighter, possibly risk off of 9 EMA, but had a strong conviction of seeing increased volume start to appear which never materialized. Decreasing volume, time, and tape dictated exits. This did result in a better return than waiting for a 9 EMA or VWAP break which would have been a sizable loss.

Failed to see much energy once I pulled up the charts. Will continue to watch for a second day play expecting increased volume due retail investors playing the earnings report and potentially institutional investors entering due to shifting into indirect AI plays.