Trade: QFI Speculative Buy Opportunity
Snapshot:
Even though there are chances of it falling over to 10p area due to HNS pattern formation (see below a chart from November 20th, 2015) there can be a speculative buy opportunity right now for a short term gain.
Reasons For Trade:
- Almost oversold
- 100sma providing support around 14p
- 14p area is neckline of HNS pattern which may throw one last bounce
- Expectation of news can create hype on Monday
- Possible Bat Pattern formation if price holds 14p price level
Stop Placement:
12.5p
Targets:
First: 18p
Second: 21p
Trade Execution:
On Market now for a good entry level
Concerns:
Speculative buy
Planned News/Events Expected:
Expected
Post Execution Review:
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