Openpay Group Ltd provides internet based buy-now-pay-later services. The Company offers online shopping solutions for apparels, beauty, garden, home, automotive, health, wellbeing, and sports. Openpay Group serves customers in Australia.
Recommendation Update: 3 September 10:00am
OPY – With a close back below $4, upward momentum is lost. This is likely to now go through a few weeks of sideways consolidation at best. We will cease coverage for now.
Recommendation Update: 31 August 10:00am
OPY – Still a way to go until the measured move target at $5.90. Needs to first overcome resistance at the $5 level. Stops should be lifted to be just below the breakout level of $4 as a move back below here would thwart the current upward momentum.
Recommendation Update: 28 August 10:00am
OPY – A higher high and higher low yesterday, with a decent close towards the highs of the session. May find some sellers at the $5 level. Stops should be lifted to the $4.20 to $4.20 region. Initial target still $5.90.
Recommendation Update: 27 August 11:00am
OPY – Breaking out on increased volumes. Lagging the sector somewhat, initial targets at $5.90.
Recommendation Update: 25 August 10:00am
Good initial break from the sideways consolidation pattern, with the price closing at $4.18, above the $4.00 resistance level. Volume levels were also elevated. The next resistance level is $4.98 (July high). A measure move from the recent pattern projects a target towards $5.90. Traders should consider placing at least a partial sell order just below this level, with the option of using a trailing stop loss on the remainder of the position. Stops should be lifted to the $3.80 to $3.90 region for today.
Original recommendation: 21 August 10:30am
OPY – currently consolidating below $4 a share. A break above could see a quick move to $5.
