For his third "Executive Decision" segment of Mad Money Monday evening, Jim Cramer spoke with Frank Bisignano, president and CEO of Fiserv Inc. (FISV) , the small business payment processor.
Bisignano said Fiserv is in the business of helping small businesses grow and its Clover payments platform saw 32% growth in the month of July. He said transaction volumes on its e-commerce platform are still increasing and now that businesses are reopening, transactions are growing again in stores as well.
When asked about the prevalence of cash in our new retail environment, Bisignano said cash had already been in decline as a payment choice, but with the pandemic, ATM and in-store volumes are declining by double-digits.
Let's check out the charts of FISV.
In the daily bar chart of FISV, below, we can see that the stock retraced about two-thirds of its February-March decline into early June but have been working lower into August. FISV is trading below the declining 50-day moving average line and below the declining 200-day line. Notice the rally failures at the 200-day line in May and June?
The On-Balance-Volume (OBV) line has been in a decline since February and that tells me that sellers have been more aggressive for months now and further weakness should be expected. The Moving Average Convergence Divergence (MACD) oscillator has been hugging the zero line in recent weeks and tells me that there is no strength on the upside from this stock.
