REMITLY GLOBAL INC (NASDAQ:RELY) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:RELY.
Deciphering the Technical Picture of NASDAQ:RELY
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.
Taking everything into account, RELY scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, RELY has proven to be a steady performer, scoring decent points in every aspect analyzed.
- Both the short term and long term trends are positive. This is a very positive sign.
- RELY is part of the Financial Services industry. There are 101 other stocks in this industry. RELY outperforms 92% of them.
- RELY is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month RELY has a been trading in the 21.17 - 23.51 range, which is quite wide. It is currently trading near the high of this range.
- When comparing the yearly performance of all stocks, we notice that RELY is one of the better performing stocks in the market, outperforming 92% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Our latest full technical report of RELY contains the most current technical analsysis.
Looking at the Setup
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:RELY scores a 9 out of 10:
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. There is a resistance zone just above the current price starting at 23.27. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.07, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
What matters for high growth investors.
- The earnings per share (EPS) of REMITLY GLOBAL INC have shown positive growth on a quarter-to-quarter (Q2Q) basis, with a 105.0% increase. This reflects the company's ability to improve its profitability over time.
- With consistent quarter-to-quarter (Q2Q) revenue growth of 39.27%, 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 continued growth.
- REMITLY GLOBAL INC has achieved significant 1-year revenue growth of 35.19%, signaling its ability to capture market opportunities and drive top-line expansion. This growth indicates the company's effective execution and its potential for continued success.
- The quarterly earnings of REMITLY GLOBAL INC have shown a 105.0% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
- accelerating EPS growth for REMITLY GLOBAL INC: the current Q2Q growth of 105.0% exceeds the previous year Q2Q growth of 0.0%.
- With a favorable trend in its operating margin over the past year, REMITLY GLOBAL INC demonstrates its ability to enhance profitability through efficient operations. This growth reflects the company's focus on optimizing its cost structure.
- The free cash flow (FCF) of REMITLY GLOBAL INC has seen steady growth over the past year, indicating enhanced cash flow generation and financial health. This trend underscores the company's effective capital management and its ability to generate sustainable cash flows.
- Maintaining a Debt-to-Equity ratio of 0.0, REMITLY GLOBAL INC demonstrates a conservative financial approach. This signifies the company's focus on minimizing debt burdens while preserving a solid equity position.
- The ownership composition of REMITLY GLOBAL INC reflects a balanced investor ecosystem, with institutional shareholders owning 82.69%. This indicates a broader market participation and potential for increased trading liquidity.
- REMITLY GLOBAL INC has a strong history of beating EPS estimates in the last 4 quarters, signaling its ability to consistently exceed market expectations. This indicates the company's strong financial performance and its potential for creating shareholder value.
- The Relative Strength (RS) of REMITLY GLOBAL INC has consistently been strong, with a current 92.32 rating. This indicates the stock's ability to exhibit relative price outperformance and reflects its competitive strength. REMITLY GLOBAL INC demonstrates promising potential for sustained price momentum.
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.