As expected we have had an initial test of the 0.490 resistance line, which was followed by a subsequent pull-back to the 0.455 level - now developing as a new support line. I'm predicting another test of this resistance line again during the week, which should hopefully flush out the sellers and leave QFE to sit on a new support-line at 0.490-0.505, leaving us clear to test the 0.585 high from September.
If this price movement is supported by a re-confirmation in results from the business, then it will be a rocket!
Looking at the ratios for EV-to-Sales and FY20 revenue to market cap, this stock is still under-represented when compared to peers in the fintech space.
To the moon!
As expected we have had an initial test of the 0.490 resistance...
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