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Long

QIWI New Uptrend Started On Friday the 29th Of December

NASDAQ:QIWI   QIWI PLC SPON ADR REPR ORD 1 CL'B'EUR0.00
Three weeks ago, many small-medium payment processing companies started a rally in response to the remarkable bitcoin bullish move. However this move was never justified as blockchain technology has littleto do with the ecosystem of these listed companies. Except for one: Qiwi PLC . Qiwi PLC is a direct investment in blockchain, and it has a sound fundamental underlying business which ig growing well above 20% yearly basis.

From a technical point of view, the share price has rebounded in a key level ($13.20-$13.60) with excepcional volume . This may indicate that the share price, taking into account the retracement, may pay a visit at least to the 38.2% of the previous downward movement ($18.60). A second bullish target is localised around the $22.
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