Splitit Ltd, doing business as Split Payments, operates as a open banking payment platform. The Company focuses on card payment, debit solutions, money transfer, and other related activities. Splitit serves customers in Australia.
Recommendation Update: 4 September 10:00am
SPT – The price is hanging in there for now, remaining above the apex of the triangle at $1.50. However, with the price at around the breakout level of $1.64, and with upward momentum waning, we would cut the position in size by selling some at market.
Recommendation Update: 3 September 10:00am
SPT – Holding up the best of the BNPL stocks, but upward momentum has been lost. We will continue coverage as price is yet to move back below the midpoint at $1.50 where trailing stops should be placed.
Recommendation Update: 31 August 11:00am
SPT – Up 8.9% on Friday on high volume, and looking more like a confirmed break from the triangle consolidation pattern. Still has some one to go before the measured move target at $2.395. Stops should be lifted to be below the triangle apex which is at $1.50.
Recommendation Update: 28 August 11:00am
SPT – Closed above the prior swing high of $1.64, confirming the breakout from the triangle consolidation pattern. We are yet to see an explosive move up like what has occurred with SZL and ZIP over the past 2 days. Happy to hold, with initial targets in the region of $2.39.
Recommendation Update: 27 August 11:00am
SPT – Currently lagging the rest of the sector but looks good for a break higher, with the close above $1.60 and volume building. May play catchup today.
Recommendation Update: 25 August 10:00am
SPT is lagging the rest of the BNPL stocks, with the price yet to break up from the current consolidation pattern. However, given the high close on Monday, there is a decent possibility this happens today. A close above $1.64 would confirm that the next up move is underway, with a measured move target in the region of $2.40. The more aggressive approach is to buy on market open today, while the more conservative would be to place a stop buy order above $1.64.
Original recommendation: 21 August 10:30am
SPT – Good high close yesterday on an uptick in volumes. Look for a break of $1.60 to $1.64
