Oportun 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.
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.
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If you found my trades helpful, please consider sending a tip in BTC to: bc1qr35mrh82hykpy9v6znpsyuew85x84ezjyrrf6m
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.