How and where to buy Paymentus Holdings as stock finds support

By: Wajeeh Khan
Wajeeh Khan
Wajeeh is an active follower of world affairs, technology, an avid reader, and loves to play table tennis in… read more.
on Jun 16, 2021
  • Paymentus Holdings stock has seen strong momentum since its IPO.
  • But shares have sold off since hitting a high of $33.91.
  • If you want to buy PAY stock today at $28.50 this guide is for you.

Paymentus Holdings Inc (NYSE: PAY) went public in the last week of May via a listing on the New York Stock Exchange. The Redmond-based company priced its shares at $21 and quickly gained 40% to trade at $33.91 per share. 

But Paymentus lost all momentum and PAY stock was seen trading at $28.66 on Wednesday. The selloff could be considered overdone based on the technical analysis (more on this below) and if you want to buy Paymentus Holdings stock now then this guide is for you.

Where and how to buy Paymentus Holdings shares?

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Paymentus Holdings provides cloud-based bill payment technologies and solutions to a range of industries. If this sounds like a stock that you want exposure to, buying shares of PAY is a simple process that wouldn’t disrupt your busy schedule. 

Simply register for an account with a reliable online stockbroker. Once you have verified your account, go ahead and fund through one of the approved payment methods. Your account is now ready to buy Paymentus Holdings shares. Search for the relevant ticker (PAY) and then buy shares of Paymentus Holdings stock.

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Should you buy PAY stock now?

Paymentus Holdings stock found support at $27.60 in early June and has seen some gains since then. The $27.60 level will provide support if the share price declines further and downside beyond these levels are not expected.

The 100-hour moving average continues to provide strong resistance. Investors can buy PAY stock now and look to exit their position at $31.33 or target higher returns of $33.12. If momentum carries the stock beyond $33.12, we could expect PAY shares to trade above its highs of $33.91 and potentially make a run for the $35 level.

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