FPAY Wedge Breakout + 20/50 SMA Cross

NASDAQ:FPAY   FlexShopper, Inc.
I am looking at consolidation above longer term support levels of $1 and $1.15. $1 had previously served as a massive resistance level and 1.15 was a prior breakout level, price has found support at those levels consistently over the last 2 months. Volume has noticeably increased since 4/28/20 as price has begun to recover. Additionally, 20 and 50 day SMA showing impending bullish cross with price finding recent support atop 5 day MA. I will asses price following the 20/50 cross to initiate 1/2 position, upon wedge breakout I am looking to add to my position. If price gaps/flies through the wedge I will DCA into a position as price gap fills or finds support atop wedge. If I think more confirmation is needed I am looking at that $1.55 level, that gets you through most of the congestion and it clears the wick from the candle on 3/26/20. My opinion is this one has potential to get hot to the upside so I am not sweating on the perfect entry, I'll just have to feel it out. Reasonable take profit is 200 day MA @ 1.75ish.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.