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Things Continue To Get Uglier With Paysafe's Stock

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Tyler Bundy
·1 min read
In this article:
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Paysafe Ltd (NYSE: PSFE) shares are falling lower Monday, after the company announced its third-quarter guidance and missed expectations. For the third quarter, the company said it expected revenue of between $360 million and $375 million. Analysts were calling for revenue of $384.4 million.

Paysafe was down 12.49% at $8.93 at last check Monday.
Paysafe Daily Chart Analysis

  • The stock dipped lower in what technical traders call a falling wedge pattern.

  • The stock trades below both the 50-day moving average (green) and the 200-day moving average (blue), indicating recent sentiment in the stock has been bearish.

  • Each of these moving averages may hold as a possible area of resistance in the future.

  • The price has continued to drop within the falling wedge pattern and may need to see a bounce near support.

  • The Relative Strength Index (RSI) has been falling and now sits at 31. This shows there are many more sellers in the stock than buyers in recent weeks.

psfedaily8-16-21.png
psfedaily8-16-21.png


What’s Next For Paysafe?

Bullish traders are looking to see the stock bounce at support and begin to form higher lows. If the stock can start forming higher lows it is possible it sees a change of trend.

Bearish traders would like to see the stock continue to fall and trade within the wedge pattern. If the stock can stay below the moving averages, sentiment in the stock may continue to stay bearish.

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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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