Long Position on SCPL @ $16.20 on 9/30/2020 (Momentum)

SciPlay Corporation (SCPL) develops and publishes digital games on mobile and Web platforms worldwide.

The company offers seven games, which include social casino games, such as Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino, and Quick Hit Slots, as well as casual games comprising MONOPOLY Slots, Bingo Showdown, and 88 Fortunes Slots.

Its social casino games include slots-style game play, as well as table games-style game play; and casual games blend slots-style or bingo game play with adventure game features. 

On July 23rd, Sciplay Corp. reported 2nd Quarter June 2020 earnings of $0.27 per share on revenue of $165.6 million. The consensus earnings estimate was $0.26 per share on revenue of $131.5 million. Revenue grew 40.2% on a year-over-year basis. Since then, shares have formed a bullish "cup and handle" and are expected to move higher from this formation. The company is scheduled to report October 22nd.

Entry Point: $16.20

Stop Loss: $15.40

Trading Range: $5.82 - $17.23

Target Price: $17.85

Updates

10/7/2020 9:31:48 AM

SCPL closed at $18.00

Position closed on 10/7/2020 at price of $18.00 with a 11.11% gain in 7 days.

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