SPECIAL Chart : Plexure (PLX : NZX)

17 August 2020



Technical Summary: For the most part the last 5 years has been pretty disappointing for shareholders of PLX. The stock has generally found its way to new lows. However over the last year or so the stock has been consolidating between around $0.10 and $0.20 per share. Earlier in the week the stock had a strong earnings update that included 51% revenue growth and strong free cash flow. This caused the stock to jump over 20% to close at $0.20 per share. The question now is whether this momentum can be sustained both on a technical and fundamental basis. Traders should watch out for a lack of liquidity.

Plexure Group (PLX) is a Mobile engagement software company with 110 million end users on its platform in over 49 countries. Its clients include McDonalds, 7-Eleven, Ikea and loyalty New Zealand. PLX has seen stellar growth of 320% in less than 4 months s

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