Last month (May) USA TECHNOLOGIES INC. - NASDAQ: $USAT recaptured its 200 DMA and now finds itself hovering above and maintaining the level with both a rising 20 and 50 DMA. While the 200 DMA remains in decline, the stock nevertheless appears to have weathered the worst and may just be on the road to recovery after a very difficult end of 2018 and a nasty gap lower in February this year as we can observe from the Daily chart above.
While the technical picture is not jumping off the screen just yet, it does indeed appear that we may just be witnessing the very beginnings of a turn.
Thus, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for a signal that would confirm such. Should USAT be capable of going topside of the $7.50 level at any time moving forward, such development may just trigger its next meaningful advance with an initial objective into the $9 - $11 area.
While the technical picture is not jumping off the screen just yet, it does indeed appear that we may just be witnessing the very beginnings of a turn.
Thus, both investors/traders may want to continue to monitor the action closely in the days/weeks ahead for a signal that would confirm such. Should USAT be capable of going topside of the $7.50 level at any time moving forward, such development may just trigger its next meaningful advance with an initial objective into the $9 - $11 area.
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/