Unfortunately GQG has re-entered the channel, and I dare say we will have to wait another two weeks for any catalyst for an upward movement. Perhaps the lack of US tech exposure (i.e. missing out on the 20% rebound) is partially to explain? (who knows?).
For now, I hope we bounce off the 50 day, otherwise should things play out as they have in the past, there is an argument to be made that this could head down to $1.80 again. I doubt that this will be the case as GQG has consistently shown FUM can grow.
Keep in mind; January 2024 - FUM $127b April 2024 - FUM $$163b.
We've added over 25% more FUM and the share price is basically unchanged.
GQG Price at posting:
$2.15 Sentiment: Buy Disclosure: Held
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