Price has failed to break lower on the last two selloffs. the 200 dma held and the stock bounced up Friday on light . Take in that contraction over August. Besides a few large buys that show up its been quiet on the Quis front. I believe Quis will run into now this week. Its not going to take a whole lot to get us up to that overhead resistance I have lined out (1.68-1.70 range). This move up implies just over a 20% gain in 6 trading days.
Where the fun/risk comes into play is the market reaction to the numbers Quis puts up. IMO there is a chance Quis can push upwards of $24 million in revenue, which would be near 100% yoy growth. Again, my stack will breakdown this down in more detail. Furthermore what will drive sentiment is comments from CEO Mike Reinhart on LedgerPay commercialization being on schedule (no reason to believe it wont be) + any pilot projects that have been undertaken during Q3. Full Commercialization for LedgerPay is due after Visa Certification has been awarded, expected at end of Sept.
All in all, I believe there is a trade to be had here, as well as a good buy range at the start of the week for a long position. I also have quis’s chart on stockcharts set up on weekly with , and OBV – the stock is technically oversold and has a reasonably long runway if it moves up with purpose. I believe it will. could be the set up for a stronger push up near end of Sept when LP reaches full commercialization. Again, Mike Reinhart’s comments will be key here to giving the market guidance.
I have a large position relative to my book in $QUIS.V, As always please do your own DD and follow your own trading rules.