Shift4Payments (FOUR) is the Trade OF The Week that we picked on our most recent episode of Talking Markets With Marc And Andrew. It has an attractive chart formation and reward/risk. The stock is poised to benefit from a broader stock market attempt to test recent highs.
Going For FOUR.
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Shift4Payments (Ticker: FOUR) is a payment processor which is now presenting a new swing trade long signal. There is a clearly established higher low formation along with a bullish candle reversal.
Since the trend on the broader time horizon is also bullish, probability favors an attempt at a new high, especially if support by a strong stock index like the Nasdaq.
What is also attractive is the reward/risk which is almost 2:1. Keep in mind, the FOMC interest rate announcement is released today and IF it leads to a bearish market outcome, this stock can be affected as well. That is why we have been encouraging conservative targets and not to get overexposed since the recent sell off in the broader stock market may still be in play on the broader time frame.
Here is the swing trade idea:
Buy Stop: 46.85
Stop Loss: 44.50
Target 1: 48.85
Target 2: 51.85
Target 3: 53.85
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