NEW BULLISH Plays
Qiwi plc - QIWI - close: 47.27 change: +1.33
Stop Loss: 44.75
Current Gain/Loss: unopened
Entry on December -- at $--.--
Listed on December 11, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 384 thousand
New Positions: Yes, see below
Why We Like It:
QIWI is in the financial sector. This Russian company operates in the electronic payments industry in Russia and Eastern Europe. The stock IPO'd earlier this year (May 2013) and has been a steady performer with investors buying the dips. The most recent earnings report was bullish and management raised their guidance.
Today QIWI was showing relative strength with a +2.8% gain and what appears to be a bullish breakout above its two-week trend of lower highs.
Today's high was $47.42. I am suggesting a trigger to open small bullish positions at $47.55. If triggered our multi-week target is $54.50. However, QIWI does have to breakout past potential round-number, psychological resistance at the $50.00 level.
Trigger @ 47.55 *small positions*
Suggested Position: buy QIWI stock @ (trigger)