LNWY- a fintech company announces stock repurchase LONG
Updated
Lendway had a big start to the week with the after-effects of the repurchase
program driving stock price higher. On the 15-minute chart- the abrupt change
in momentum from a peak on Friday at the lunch hour into a low in the pre-market
on Monday with a V-shaped move down and up again and then a monster move
from there and a fade after that. LNWY seems to have moved into a parallel channel
with a trend slope/ angle of about 25% the ZL MACD shows a line cross under the histogram
which went red to green. I will take a long trade here. the stop loss is under the new
trend line at 4.45 while the final target is at the top of the upper resistance trend line at
7.25. An initial target is set about halfway in between them at 6.00 This is a stock with
high current volatility given the intention to buy back 400.000 shares in a relatively low float
environment. ( stocktitan.net/news/LDWY/lendway-inc-announces-new-authorization-to-repurchase-up-to-400-000-mazpiicgzahw.html ) I anticipate high profile
with a relatively low risk. There are no options available to either hedge or amplify risk.
program driving stock price higher. On the 15-minute chart- the abrupt change
in momentum from a peak on Friday at the lunch hour into a low in the pre-market
on Monday with a V-shaped move down and up again and then a monster move
from there and a fade after that. LNWY seems to have moved into a parallel channel
with a trend slope/ angle of about 25% the ZL MACD shows a line cross under the histogram
which went red to green. I will take a long trade here. the stop loss is under the new
trend line at 4.45 while the final target is at the top of the upper resistance trend line at
7.25. An initial target is set about halfway in between them at 6.00 This is a stock with
high current volatility given the intention to buy back 400.000 shares in a relatively low float
environment. ( stocktitan.net/news/LDWY/lendway-inc-announces-new-authorization-to-repurchase-up-to-400-000-mazpiicgzahw.html ) I anticipate high profile
with a relatively low risk. There are no options available to either hedge or amplify risk.
Trade active
Price up about 6% stop moved well above break-even 4% profit locked in- full position heading into the close- expect momentum in the after-hours- looking to trim some tomorrow late morning.
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