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QIWI: Higher Prices Ahead!

|Includes:QIWI plc (QIWI)

New IPO, Qiwi, the "Paypal of Russia", rose for the third straight session in above-average volume on Friday. The chart below shows a clear and well-supported ascending base-breakout pattern with strong volume on the breakouts. The company sports strong EPS and sales growth, every year since 2009 and carries a Return on Equity of +91%. This one may well be a "back pocket" and sit on the shares for the long-haul.

QIWI chart:

Disclosure: I am long QIWI.

Stocks: QIWI