REMITLY GLOBAL INC (NASDAQ:RELY) – A High Growth Momentum Stock with Strong Technical Setup

REMITLY GLOBAL INC (NASDAQ:RELY) stands out as a high-growth candidate with a favorable technical setup, according to our screening criteria. The company, which provides digital financial services for immigrants and their families, demonstrates strong earnings momentum alongside a solid technical foundation.

Growth Momentum Highlights

• Revenue Growth: RELY posted a 34.4% year-over-year increase in revenue (TTM), with consistent quarterly sales growth above 30%.
• Earnings Acceleration: EPS growth surged 145.5% in the most recent quarter, following an 84.2% increase in the prior quarter.
• Free Cash Flow Expansion: FCF per share grew by 332% over the past year, reflecting improved operational efficiency.
• Positive Revisions: Analysts have raised next-year EPS estimates by 450% in the last three months, signaling confidence in future performance.
• Profit Margin Improvement: The latest quarter showed a profit margin of 3.14%, up from 0.57% two quarters prior.

Technical Strength

RELY’s technical rating of 9 out of 10 indicates a strong uptrend, supported by:

• Positive long-term and short-term trends.
• Outperformance against 92% of the market and 94% of financial services peers.
• A recent pullback to the mid-range of its 52-week high ($27.32) and low ($11.60), presenting a potential entry point.

Setup Quality

With a setup rating of 7, RELY shows consolidation with reduced volatility. Key observations include:

• Support zones at $22.33 and $20.12 provide downside protection.
• Resistance near $23.85 to $24.49 could serve as a breakout trigger.
• Large players have shown recent interest, reinforcing the setup’s validity.

For a deeper technical analysis, review the full technical report.

Our High Growth Momentum Breakout Setups Screen lists more stocks with similar characteristics and is updated daily.

Disclaimer

This is not investing advice. The observations are based on data at the time of writing, and investors should conduct their own research before making decisions.