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Small Cap Financial Poised to Breakout to Highs From Bull Flag

by | Jun 17, 2024

Bread Financial (BFH) shares of the small cap are forming a bullish flag above its 55-day MA as MACD nears a bullish cross higher and the stock put in a solid green candle Monday reversing higher back into its monthly value area and closed above the 8 EMA. BFH is up a solid 23% YTD thus far and now poised to add to those gains into the quarter end as it could break out towards 45 from here with a first target of 42. BFH still has 2000 December $37.50 short puts in open interest from opening sales on 3/5 for $5.10.

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