Technical analyst Zak Mir sees support for Quadrise Fuels International Plc (LON:QFI) below current levels, and he reckons the share could be setting up for a strong rally.
Mir in a Tip TV segment for Proactive Investors said the Quadrise chart was “an improving picture”.
He highlights that the chart has a rising trend channel that has been in play since June, and said there are multiple support points at the 10p level.
He calls the upside ‘decent’ and says that the price could rise up to 16p, but cautious buyers may want to wait for the price to break above 12p, which where the 200-day moving average is.
