Monitise PLC (MONIF)

[stayfocused]

Here's a Reuters piece about the latest placement of 160m shares dated 25 March '14, so that may have something to do with it. The weekly chart shows the 50 EMA at .95 so it needs to hold that. However, recent news with Mastercard and Visa show that massive expansion is expected over the next 3-5 years and so once this consolidation has finished I think we'll have a slow and steady move up north of 2 bucks. JMO


"Tuesday, 25 Mar 2014 03:00am EDT

Monitise PLC:Says it has placed a total of 160,643,031 new ordinary shares of 1p each at a price of 68.0 pence per share with MasterCard and certain institutional investors on a non pre-emptive basis.Raising total gross proceeds of about 109 mln pounds and the placing was over-subscribed.Barclays and Canaccord Genuity are acting as Joint Bookrunners in connection with the placing.Admission will become effective, and trading in the placing shares will commence on AIM, at 8.00 a.m. on March 28"

http://www.reuters.com/finance/stocks/MONI.L/key-developments/article/2951038

PS They've already reaffirmed 2014 revs.