Is Buying Payment Data Systems, Inc. (PYDS) Here a Winning Strategy? The Stock Formed Bullish Descending Triangle Chart Pattern

October 2, 2018 - By Marguerite Chambers

Payment Data Systems, Inc. (NASDAQ:PYDS) Logo

The stock of Payment Data Systems, Inc. (PYDS) formed a descending triangle with $1.92 target or 6.00 % above today’s $1.81 share price. The 5 months triangle pattern indicates low risk for the $28.96 million company. If the $1.92 price target is reached, the company will be worth $1.74M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.55% or $0.01 during the last trading session, reaching $1.81. About 3,571 shares traded. Payment Data Systems, Inc. (NASDAQ:PYDS) has risen 10.53% since October 2, 2017 and is uptrending. It has underperformed by 5.09% the S&P500.

Another recent and important Payment Data Systems, Inc. (NASDAQ:PYDS) news was published by which published an article titled: “Payment Data Systems to Present at The MicroCap Conference on October 1, 2018 in New York City” on September 19, 2018.

Payment Data Systems, Inc., together with its subsidiaries, provides integrated electronic payment processing services to merchants and businesses in the United States. The company has market cap of $28.96 million. The firm offers various types of automated clearing house processing; and credit, prepaid card, and debit card processing services. It currently has negative earnings. The Company’s ACH processing services include Represented Check, a consumer non-sufficient funds check that is represented for payment electronically rather than through the paper check collection system; and Accounts Receivable Check Conversion, a consumer paper check payment, which is converted into an e-check.

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