AFFIRM CUP and HANDLE formation, buy with both Hands
Hello Traders,
this is my first contribution, hope you'll like it.
First to some basic information:
Affirm is already the US Leader in the so called BNPL (Buy Now, Pay Later) market space.
It is growing at an exceptional high pace thanks to it's experienced CEO Max Levchin (Co-Founder of Pay-Pal). It is highly innovative and pro consumer oriented, which is a good strategy, as it does not take transaction fees, reason why Shopify entered into an exclusive partnership with Affirm. Despite some fierce competition in this space Affirm has been able to sustain its high growth rates translating this into nice Revenue increases and most probably will continue to be able in doing so due to its great leadership and market position.
Now to the technicals:
The 1h CandleStick Chart shows a very clear CUP and Handle Formation, which is a very bullish sign.
Also the last relevant resistance to be overcome at around $65,50 is gone right now and therefore this is a very good moment to buy some shares if you consider a 3 to 6 month time range. First goal would be retest the $100 and if it is able to overcome this range it could easily retest its previous ATH at around $140.
this is my first contribution, hope you'll like it.
First to some basic information:
Affirm is already the US Leader in the so called BNPL (Buy Now, Pay Later) market space.
It is growing at an exceptional high pace thanks to it's experienced CEO Max Levchin (Co-Founder of Pay-Pal). It is highly innovative and pro consumer oriented, which is a good strategy, as it does not take transaction fees, reason why Shopify entered into an exclusive partnership with Affirm. Despite some fierce competition in this space Affirm has been able to sustain its high growth rates translating this into nice Revenue increases and most probably will continue to be able in doing so due to its great leadership and market position.
Now to the technicals:
The 1h CandleStick Chart shows a very clear CUP and Handle Formation, which is a very bullish sign.
Also the last relevant resistance to be overcome at around $65,50 is gone right now and therefore this is a very good moment to buy some shares if you consider a 3 to 6 month time range. First goal would be retest the $100 and if it is able to overcome this range it could easily retest its previous ATH at around $140.
Comment:
also check out the 4h Chart so better see the Cup & Handle