Long Position on QIWI @ $46.10 on 12/11/2013 (Momentum)

QIWI plc (QIWI) operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United States, and the United Arab Emirates.

The company operates in three segments: Qiwi Distribution, Visa Qiwi Wallet, and Corporate and Other.

It provides payment services through operating approximately 120,000 kiosks and 49,000 terminals in its payment processing platform. The company also offers Visa Qiwi Wallet, an online and mobile payment processing, and money transfer system that allows accountholders to pay for the products and services of merchants, as well as to perform peer-to-peer money transfers through a virtual wallet in the online and mobile environment.

In addition, it is involved in licensing software and trademarks. Shares of this recent IPO have formed a bullish "cup & handle" and higher share prices are expected for this stock.

52-Week Trading Range: $14.51 - $50.65

Entry Point: $46.10

Stop Loss: $43.75

Target Price: $50.71

Updates

12/13/2013 9:33:56 AM

We are taking profits on QIWI. 

Position closed on 12/13/2013 at price of $51.80 with a 12.36% gain in 1 days.

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