ETrades1
Long

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.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out