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  • Writer's pictureT. Livingston

Shift4 Payments Forms A Large Base

Shift4 Payments (FOUR) was a hot IPO during the 2020 bull market. Like PLTR and MNDY, it corrected hard during the 2022 bear market and now looks like it is starting to wake up. Shift4 provides payment processing solutions and has delivered impressive earnings and sales growth over the past two years. In addition, fund ownership has been increasing over the past four quarters, indicating institutions like what they are seeing.

While this is all positive, it is FOUR's chart that first caught my attention. It is currently building a large cup and handle base with some subtle details that I really like. First, I love the strong rally off the September 2022 lows. In addition, the supportive action off the 40-week moving average in June is a good sign of accumulation.

I currently own a partial position in FOUR. I will be looking to add some more shares should it clear recent resistance with conviction. As always, I have a stop loss in place to help manage my risk.

Risk right. Sit tight.

To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.

Full Disclosure: I currently own PLTR, MNDY, and FOUR.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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