Here’s your trade on Paysign ($PAYS) (October 02, 2019)
PAYS
I just want to take a quick look at Paysign ( NASDAQ: PAYS ) here. This is holding up along the 200-day moving average and that’s what is really interesting to me. It is kind of trapped between the 200 and the 150 but that’s okay. The thing that is important is, this stock fell, at one point it was down over 50 percent from it’s high earlier this year. That’s a real big fall from grace. Now, we could see the stock continue down to $5.00, it was there earlier this year so it will have been one heck of a reversal.
Want I am suggesting you do is, watch the stock. What it should be doing is, if it is going to be a healthy little pullback this should be continuing to form a base right here. If it does that this will give the 200-day moving average a chance to kind of catch up to where the stock is and maybe ultimately hold the stock for a rebound higher. Of course, at the same time, this 50-day moving average is coming down. But you can see the slope is actually, if you really look at it carefully, this is a really, really shallow move here. So it is going to be quite a while before the 50-day moving average has relevance.
Meanwhile, the stock is just forming this kind of base so the longer it holds right around about $10.00 the better off you are going to be. I think you are a little early to buy this stock, frankly, but if it pulls back closer to $10.00, and at $11.00, that’s about 9 percent, right? If it pulls back that far then you can kind of take a shot with a fairly tight stop.
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