The Chart of the Day belongs to the company that makes cross-border remittance transfers for immigrants Remitly Global (RELY), states Jim Van Meerten of

I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and a Trend Seeker buy signal. I then used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 2/23 the stock gained 20.15%.

RELY Price vs Daily Moving Averages

Remitly Global, Inc. provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 170 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the website when you read this report.

Barchart Technical Indicators:

  • 100% technical buy signals
  • 108.20+Weighted Alpha
  • 65.31% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50, and 100-day moving averages
  • 10 new highs and up 12.05% in the last month
  • Relative Strength Index 72.09%
  • Recently traded at $17.11 with a 50-day moving average of $14.17.

Fundamental Factors:

  • Market Cap $2.95 billion
  • Revenue is expected to grow 34.70% this year and another 26.00% next year
  • Earnings are estimated to increase by 5.80% next year

Analysts and Investor Sentiment: I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

  • Wall Street analysts issued three strong buy and five buy opinions on the stock
  • Their price targets are $14.50 to $20.00
  • CFRAs MarketScope has a sell rating
  • 1,120 investors monitor the stock on Seeking Alpha

Disclosure: I/we have no stock, option, or similar derivative position in any of the companies mentioned but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.

Learn more about Jim Van Meerten at