Monitise PLC (MONIF)

[realfast95]

Monitise looks upwardly mobile
By Trader Talk
July 26 2014, 7:00am

http://www.proactiveinvestors.co.uk/columns/trader-talk/16673/monitise-looks-upwardly-mobile-16673.html

The company has lost half of its value since January, which looks like an overreaction. After building a base above 40p, the rising oscillators indicate an improvement in momentum, with the MACD histogram stepping into positive territory.

Monitise is a market leader in a fast moving market, with high-profile partners and a strong debt-free balance sheet, which intends to achieve profitability in 2016. At the time of writing the share price is 43.0p and I believe the recent consolidation has presented an opportunity to acquire a quality growth stock. Targets are seen at 47.8p, 52.2p and 60.9p, while a stop-loss at 39.8p should be considered to protect downside.

This report was written by Mark Allen – Head of Derivatives at Simple Investments Stockbrokers. The writer does not hold a position in Monitise, but client accounts may. The material in this report has come from Simple Investments internal data sources, Simply Charts and Monitise’s corporate website.