Quadrise Fuels International Plc (LON:QFI) shares could be set to more than double in the coming months, so says technical analyst Zak Mir.
Mir, in a Tip TV segment for Proactive Investors, said: “Looks as though we’re starting to see the shares ratchet up a gear as far as recovery is concerned, with the 10p level being the main support area over the last year /year-and-a-half.”
He added: “Ideally what we would want to see before the end of this year is a break of the 12p zone … If we can break back above that, then maybe for early 2017 we could head up towards the 22p area which was resistance at the end of last year.”
The analyst cautioned, however, that he wouldn’t want to see the share drop beyond the current support, the 9-10p level.
