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IQE set to break through £1 zone before end of August

Published: 18:35 20 Jun 2017 AEST

Technical analyst Zak Mir reckons the share price of semiconductor firm IQE plc (LON:IQE) is set to continue its strong run and break through the £1 level within the next two months.

“The stock has been rallying since last summer when the shares were closer to 20p and they’re now approaching 90p,” explains Mir in the latest Proactive Investors Bulletin Board.

“We’ve got a rising trend channel here from the beginning of March and while we remain above the 80p zone, one would expect a target over the next one to two months as high as 110p.”

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