QFE - Chart, page-645

QFE 51 weekly chart hit weekly chart supply in July retested the supply zone in September and has now pulled back to test the blue 50simple moving average for support. It is now at a weekly chart demand level where buyers should be attracted by the lower price.
On the QFE 51 daily chart there has been a pullback to test the red 200sma for support in November and price has since moved above the black 8expoential moving average. Once price gets above the 50sma and more importantly once the 8ema is trading above the 50sma then price is likely to trade substantally higher like it did the last time the 8ema crossed above the 50sma inMay this year. In a nutshell, now is a good time to buy to catch the next leg up. The first leg up went from 13 cents to 97 cents a range of about 84 cents so following the pullback to about 47 cents the price target for the next leg up will be 47+84 cents = about 131 cents