SPY) Rally Thrust With Momentum?

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

Latest posts by Pratik Chadhokar (see all)

Smartpay plc. (SPY) stock market capitalization is $393.17 Million and the total revenue is $77.775 Million. Moreover, the stock’s basic EPS is $0.035 and the price-to-earnings ratio is 46.480.

SPY stock is expensive, as reported by the financial analysis website Simply Wall St., based on its Price-To-Earnings ratio which is 46.6x compared to the estimated Fair ratio of Price-To-earnings which is 40.1x and compared to the average of the UK Metals and Mining industry which is 13.5x.

Technical Analysis of SPY Stock Price in 1-D Timeframe

The price action shows that Smartpay Holdings Limited ( NZX: SPY) stock price took support at around $1, a swift uptrend was noticed and reached a high at $1.945 and since then the SPY stock has been in a continuous downtrend, and fell to the nearest order block where liquidity is present and the spike is observed on the chart from last three weeks by making lower lows and highs. 

At the time of publication, the SPY Stock’s current price is trading around $1.655. Therefore, if Smartpay fails to maintain its current level, the Smartpay price could continue to drag downwards and hit the nearest support levels around $1.505 and $1.360.

However, if the stock price sustains the current level and Smartpay’s price increases, then it might reach the nearest resistance levels of $1.910 and $1.970.

At the time of publishing, Smartpay plc. (NZX: SPY) is trading above the 100, and 200 EMA which is supporting the price. As per the investor’s sentiments, if more buying volume adds up in the SPY stock then the price might conquer rejecting 20, and 50-day EMA by making an uptrend with higher highs and lows. Conversely, if more selling volume adds up then the Smartpay price might conquer supports which is supporting.

RSI indicates bullishness for SPY stock, the current value of RSI is 46 points. The 14 SMA is below the median line at 30.26, it’s noticed that RSI took support On 14 SMA and headed for overbought points which indicates SPY stock’s bullishness.

MACD indicates a tiny bullish crossover for SPY stock, the MACD line at 0.056 and signal line at 0.057 is below the zero line and both lines have crossed each other which expresses bullish hints for the Smartpay stock price.

Summary

Smartpay plc. (NZX: SPY) indicates that the traders and investors of the stock price are bullish on the 1-D time frame. The price action for SPY stock predicts a bullish outlook at the time of publishing. The technical analysis tools of Smartpay stock price also support bullish hints. The EMA, RSI, and MACD highlight upward hints and predict that a swift uptrend may come in Smartpay stock price.

Technical Levels

• Support levels: The nearest support levels for SPY stock price are $1.505 and $1.360.
• Resistance levels: The nearest resistance levels for the Smartpay stock price are $1.910 and $1.970.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.