As you can see, OLB has been on a heater.
After closing at $4.27 on November 20th, OLB has not dropped down below the $4.00 again.
In fact, when it hit a high of $8.44 yesterday, OLB officially more than doubled in value since November. That's spectacular.
With OLB now trading towards the top right of its 6-month chart, there could be very little resistance in its way of trying to reach previous or even new highs.
OLB has a current 52-week high of $15.00 which means there is a ton of upside potential from current levels.
I'm not saying that OLB is going to shoot up to that 52-week high today, but you need to be aware of the potential upside for this Fintech profile.
Plus, from Tuesday's close of $7.45, OLB is trading above several lines of strong potential support that could help fuel a continued vertical move.
OLB is currently trading above it 50-Day Simple Moving Average, 5-Day Exponential Moving Average (EMA), and 13-Day Exponential Moving Average.
Also, OLB's 5-Day EMA is trading above its 13-Day EMA which can be seen as a bullish trend short term.
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#2. OLB Potential Catalyst - Low Float
Wow... This Nasdaq profile has an incredibly low float.
According to Yahoo Finance, OLB has a float of approximately 2.09Mn shares.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available for trading, potential catalysts can send shares heading vertical in the short term.
The past two days is the perfect example of how quickly this profile can move on a nearly daily basis.
From a Monday low of $5.85, OLB was able to heat up and go on a run of over $2.50+ to a high of $8.44 yesterday.
That run resulted in a breakout move of 44% in the blink of an eye.
Could OLB be on pace for a major intraday breakout today?
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#3. OLB Potential Catalyst - Analyst Coverage ($9.00 Target)
Back in January, an Aegis Capital analyst maintained a "Buy" rating on OLB and set a price target of $9.00.
Previously, the analyst had a price target of $7.00, but decided to up their new target by over 25%!
That's huge. Could the company's Q3 results along with an optimistic outlook for 2021 and beyond be reason for this decision?
Just yesterday we saw OLB push through the $8.00 mark, but did not come close to sniffing the new target.
Even better, with a 52-week high of $15.00, it appears that there is a ton of upside potential from current levels even if OLB is able to achieve the analyst's target in the short term.
Will this recent momentum streak since November be the fuel to push towards previous highs? You'll need to watch OLB closely today.
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#4. OLB Potential Catalyst - Projected 2021 Revenue Growth
OLB Projects Continued Strong Revenue Growth in 2021
Cloud-based merchant services provider expects to build on larger merchant base in 2021
The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants, expects to extend its strong financial performance into 2021. According to Ronny Yakov, CEO of OLB Group, the increased appetite for cloud-based merchant services, coupled with the company’s robust solutions portfolio and reputation for personal attention to merchants desiring a hand-on approach, should continue the trends in broadening the merchant base and accelerating sales in the new year.
Yakov noted, "2020 was an unprecedented year and tested our collective resilience on many fronts. OLB overcame these challenges and executed on its mission to provide eCommerce solutions and business services to small- and mid-size merchants. I am especially proud of our onboarding and support teams who worked tirelessly to assist our merchants during the worst parts of the pandemic. Our successes, combined with our greatly improved and comprehensive solutions portfolio, positions the company for continued growth throughout 2021."
Yakov noted several recent achievements that will contribute to 2021 momentum:
- Secured status as a Payment Facilitator (PayFac) with two major banks
- Expanded and enhanced all applications and upgraded its merchant boarding process
- Delivered fully cashless and contactless purchase experiences to merchants and consumers
- Actively assisted traditionally brick-and-mortar businesses transition to online ordering and fulfillment
- Achieved listing on NASDAQ in August 2020
Yakov expressed confidence that OLB brands and solutions, including its eVance merchant processing, GHM benefits program, SecurePay payment gateway, and ShopFast omnicommerce platform, will continue to attract new merchants in the coming year.
"Our company is in a strong position to serve the multiple business needs of our customers," explained Yakov. "OLB has a solutions portfolio that is broad, secure, and dependable, and we have an experienced, talented team. We believe that 2021 will be a very successful year for our entire organization."
Read the full article here.
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#5. OLB Potential Catalyst - Hospital Sector Opp. News
OLB Sees Strong Opp's in the Hospitality Sector for Its DoubleBeam Payments Platform
Cloud-Based Platform Facilitates Online and Mobile Services That Help Cafeterias and Food Service Operators Overcome CV-19 Restrictions
The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants, announced that its DoubleBeam cloud-based payment services platform has been optimized to enable hospitality providers to expand business opp's and deliver safe customer service options in [Pandemic]-restricted environments.
DoubleBeam is a fully integrated component of OLB’s omnicommerce portfolio, delivering comprehensive marketing, ordering, payment, and fulfillment processes through intuitive software and hardware. Utilized by operators of every size, DoubleBeam leverages the cloud to provide frictionless customer service and simple integration with back office processes and kitchen operations.
"We’ve been working hard throughout the pandemic to ensure that DoubleBeam customers can easily transition from a traditional premise-centric business model to a cloud-based infrastructure that facilitates safe business practices, including online ordering and fulfillment, contactless payment, and flexible delivery options," said Ronny Yakov, chief executive officer for OLB. "By processing millions of transactions each month, DoubleBeam is proving its value as a secure and reliable solution that helps hospitality providers and other businesses flourish in the most challenging situations. We expect this trend to continue as more organizations seek efficient options to maintain operations."
[...]
Read the full article here.
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Recap: Top 5 Potential OLB Catalysts To Know Now
#1. OLB Potential Catalyst - Red Hot Chart Action
#2. OLB Potential Catalyst - Low Float
#3. OLB Potential Catalyst - Analyst Coverage
#4. OLB Potential Catalyst - Projected 2021 Revenue Growth
#5. OLB Potential Catalyst - Hospital Sector Opp. News
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Coverage is officially initiated on OLB.
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