LendingClub Finds Sellers At $6.20 Area Again After Q3 Beat

LendingClub Corp LC shares are trading higher by $0.98 (17 percent) at $6.11 in Monday's session. There are two catalysts accounting for the rally.

Before the open, the company announced a Q3 beat of $0.03 with nearly $10 million more in revenues. The company also secured a $1.3 billion purchase program from a National Bank Of Canada subsidiary.

The rally is findings sellers in a familiar area as $6.18 stands as the current high for the day. That high falls in between a series of eight consecutive highs from $6.12 to $6.28 from  September 27 to October 6.

The issue is attempting to post its first close over $6.00 since October 10, when it ended the session at $6.04.