LDC870
Long

FPAY Squeeze Update

NASDAQ:FPAY   FLEXSHOPPER INC
The spread has tightened up over last three trading days into an ascending triangle . Squeeze remains released on the daily chart with positive momentum.
On the 30-minute chart, TTM squeeze is on and should break one way or the other today. On Friday, asks in the mid-80s had dried up. The C-Wave looks pretty good on this one, so my guess is it breaks up today or tomorrow. Once this breaks 0.88 it should hit next resistance at 0.95 and then 1.08. These low floaters can give lots of false signals throughout the day. So long as the longs keep holding, the bids will eventually have to break resistance.

Expecting PR any day now for the December lease originations update.
Comment: Big pop yesterday pre-market and early morning, easily clearing 0.88 resistance. Paused briefly at 0.95 resistance, but eventually cleared that as well. . . .

It quickly jumped above $1.00 and then just as quickly fell back below 0.90 on a hug sell order. Found support at 0.83 but didn't show much life the rest of the day.

Technically, the 30-minute ttm squeeze shown on this chart still hasn't fired; however, the A-Wave is now clearly below the zero line. Not an ideal long entry. If squeeze continues today and A-Wave turns back positive, this may have another run in it, but I'm not ready to bet on it yet.

Comments



As you can see here, the 30-minute SMA50 is now strong resistance.
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