Oportun Financial: Bullish Reversal with Promising MomentumOportun Financial Corporation (NASDAQ: OPRT) seems to be showing signs of a potential reversal. The stock has recently experienced a sharp increase in price with a 25.27% gain, which is evident on the chart.
The momentum is further supported by the RSI showing an upward trajectory. The stock appears to have bounced back from its support level around $3.57. The multiple ‘Buy’ signals in combination with the moving average lines starting to converge suggests bullish momentum. The long position can be initiated around the current price of $6.84, with a target range of $10.62 to $11.73, which aligns with historical resistance levels.
A stop-loss order could be placed below the recent low at $3.57 to protect against any unexpected downturn. This trade provides a good risk-reward ratio and can be considered for medium-term investment. Note that it is essential to monitor the stock closely and make adjustments based on any change in market sentiments or company-specific news.
