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May 13, 2024 @ 8:51 AM
NASDAQ:FLYW

Flywire Corporation (FLYW) is a global payment and receivables platform that enables businesses and institutions to receive and make cross-border payments efficiently. They provide a secure and streamlined payment solution for industries such as education, healthcare, travel, and technology.

In terms of technical analysis, the stock of Flywire Corporation is currently retesting a key level of support. A support level is a price level at which buying pressure typically outweighs selling pressure, potentially leading to a bounce or reversal in the stock price. The fact that the stock is retesting this level suggests that it is an important area for traders and investors to watch.

However, it is worth noting that the stock is making relative lows, indicating that the overall trend is still downward. This suggests that the selling pressure is still prevalent, and the stock may face challenges in its attempt to reverse the downtrend.

Traders and investors should closely monitor the stock's price action and volume to assess whether the support level holds and if there are any signs of a potential trend reversal.

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