Flow Traders ready for higher levels

Spijk Updated   
Since September Flow Traders has been forming a classic Head and Shoulders patters. Today it clearly broke the neckline. Based on classic H&S guidelines for price targets, the current rally could at least send the price to 22 euro.

On a more fundamental side I think Flow Traders will profit from slightly higher volumes and wider spreads in markets they trade, which should result in higher profits. Therefore I expect profit surprises to be on the positive side which could boost the current rally.
Flow Traders will provide a trading update tomorrow before the bell.
Well, earnings announcement sent the share price above minimum target already. I keep my long positions given the positive momentum. Let's see if it can reach the 200d MA in a couple of weeks around a level of 25.0-26.0.

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