Remitly Global Inc

RELY has broken decisively below its 50-day SMA support zone on heavy volume, confirming a support failure and downstream continuation risk. Despite extreme oversold readings, no exhaustion or reversal signals are evident. Under the Momentum + EPS strategy favoring trend continuation, the medium-term bias is bearish, and immediate sell execution is recommended, ideally into any retest of the broken $24–$25 area. A sustained close back above this zone would invalidate the bearish posture.

• ↑Q2 revenue $495M (+20% YoY), $11M above high-end guidance
• ↑Adjusted EBITDA $115M (23% margin), driven by lower expenses
• ↓Negative adjusted margins highlight ongoing profitability pressure