LendingTree, Inc.

LendingTree, Inc. (NASDAQ: TREE) is a United States-based company primarily engaged in the operation of the online lending market. Noted below are the key price indicators for the stock:

Technical Observation (on the Weekly Chart)

On the weekly chart, TREE’s prices are trading with the lower lows and lower highs formation, indicating an overall downtrend for the stock. The leading indicator RSI (14-period) is moving in an oversold zone and is showing a reading of ~25.95. The CMP is below the trend-following indicators 21-period & 50-period SMA, which may act as the resistance level for the stock. 

As per the above-mentioned price action and technical indicators analysis, a ‘Watch’ rating has been given on LendingTree, Inc. at the close price of USD 47.42 (as of June 28, 2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Remitly Global, Inc.

Remitly Global, Inc. (NASDAQ: RELY) is a leading provider of digital financial services for immigrants, enabling users to make personal transfers in more than 160 countries around the world. Noted below are the key price indicators for the stock:

Technical Observation (on the Weekly Chart)

On the weekly chart, RELY’s prices are trading in a downward trend since its listing on the exchange. The leading indicator RSI (14-period) is moving around the oversold zone and is showing a reading of ~31.26. The CMP is below the trend-following indicator 21-period SMA, which may act as the resistance level for the stock. 

As per the above-mentioned price action and technical indicators analysis, a ‘Watch’ rating has been given on Remitly Global, Inc. at the close price of USD 8.29 (as of June 28, 2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Oportun Financial Corporation

Oportun Financial Corporation (NASDAQ: OPRT) is a fintech company that provides financial services from personal loans to finance. Noted below are the key price indicators for the stock:

Technical Observation (on the Weekly Chart)

As per the weekly chart, ORPT’s prices corrected more than 70% from the 52-week high and still trading in a downward trend. The leading indicator RSI (14-period) is moving in an oversold zone and is showing a reading of ~28.39. The CMP is below the trend-following indicators 21-period & 50-period SMA, which may act as the resistance level for the stock. 

As per the above-mentioned price action and technical indicators analysis, a ‘Watch’ rating has been given on the Oportun Financial Corporation at the close price of USD 9.00 (as of June 28, 2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Ocean Power Technologies, Inc

Ocean Power Technologies, Inc. (NYSE: OPTT) is developing and seeking to commercialize its systems that generate electricity by connecting the renewable energy of ocean waves. Noted below are the key price indicators for the stock:

Technical Observation (on the Weekly Chart)

As per the weekly chart, OPTT’s prices is trading below the downward sloping trendline. The leading indicator RSI (14-period) is moving in an oversold zone and is showing a reading of ~29.636. The CMP is below the trend-following indicators 21-period & 50-period SMA, which may act as the resistance level for the stock. 

As per the above-mentioned price action and technical indicators analysis, a ‘Watch’ rating has been given on the Ocean Power Technologies, Inc. at the close price of USD 0.5706 (as of June 28, 2022). Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Note 1: Investment Related Risks: This report may be looked at by Investors with sufficient risk appetite looking for returns within a short investment duration. Investment recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

Note 2: How to Read the Charts?

The Green colour line reflects the 21-period moving average while the red line indicates the 50- period moving average. SMA helps to identify existing price trend. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period) which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status while a reading of 30 or below suggests an oversold status.

The Blue colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps in easier and faster execution of the order.

The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavorable movement in the stock prices.

The reference date for all price data, volumes, technical indicators, support, and resistance levels is June 28, 2022. The reference data in this report has been partly sourced from REFINITIV. 

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

RSI: Relative Strength Index

USD: United States dollar 

Note: Trading decisions require a thorough analysis by investors. Technical reports in general chart out metrics that may be assessed by investors before any stock evaluation. The above are illustrative analytical factors used for evaluating the stocks; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.