Exploring NASDAQ:RELY's high growth characteristics.

We've identified REMITLY GLOBAL INC (NASDAQ:RELY) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:RELY for further developments.

Technical Analysis Observations

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

We assign a technical rating of 8 out of 10 to RELY. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, RELY is only an average performer.

• The long and short term trends are both positive. This is looking good!
• RELY is one of the better performing stocks in the Financial Services industry, it outperforms 72% of 99 stocks in the same industry.
• RELY is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so RELY is lagging the market slightly.
• RELY is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• Looking at the yearly performance, RELY did better than 79% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

For an up to date full technical analysis you can check the technical report of RELY

Why is NASDAQ:RELY a setup?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:RELY exhibits a 7 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, RELY also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 21.04. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for RELY in the last couple of days, which is a good sign.

What matters for high growth investors.

• REMITLY GLOBAL INC has shown positive momentum in its earnings per share (EPS) on a quarter-to-quarter (Q2Q) basis, with a 105.0% increase. This reflects the company's successful execution of its business strategies and its commitment to delivering improved financial results.
• The recent q2q revenue growth of 39.27% of REMITLY GLOBAL INC showcases the company's ability to generate increasing revenue in a short period, reflecting its positive growth trajectory.
• With notable 1-year revenue growth of 35.19%, REMITLY GLOBAL INC exemplifies its ability to generate increased sales and revenue streams. This growth signifies the company's strong business performance and its potential for future growth.
• The recent financial report of REMITLY GLOBAL INC demonstrates a 105.0% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• The earnings per share (EPS) growth of REMITLY GLOBAL INC are accelerating: the current Q2Q growth of 105.0% is above the previous year Q2Q growth of 0.0%. Earnings momentum and acceleration are key for high growth systems.
• REMITLY GLOBAL INC has experienced notable growth in its operating margin over the past year, reflecting improved operational performance. This growth suggests the company's ability to generate higher profits from its core business activities.
• With a favorable trend in its free cash flow (FCF) over the past year, REMITLY GLOBAL INC demonstrates its ability to generate robust cash flows and maintain financial stability. This growth reflects the company's focus on efficient capital allocation and cash management.
• With a Debt-to-Equity ratio at 0.0, REMITLY GLOBAL INC showcases its prudent financial management. The company's balanced approach between debt and equity reflects its commitment to maintaining a stable capital structure.
• REMITLY GLOBAL INC has consistently exceeded EPS estimates in the last 4 quarters, demonstrating its ability to outperform market expectations. This trend highlights the company's strong financial performance and its potential for future growth.
• The Relative Strength (RS) of REMITLY GLOBAL INC has been consistently solid, with a current 79.9 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. REMITLY GLOBAL INC exhibits strong prospects for further price appreciation.

More ideas for high growth momentum breakouts can be found on ChartMill in our High Growth Momentum Breakout screen.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.