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