ASX based XERO on a European Acquisition Trail

Xero has been recovering nicely and managed to move up through a couple of fairly solid resistance points.

It is starting to approach old time highs again, so might be a bit of a short term pullback in the next couple of days, but it is looking good in the medium to long term, and there really doesn't seem to be much in the way of competition these days - certainly not in the Australian landscape.

With their recent purchases of Swedens Tickstar (e-invoicing specialist) and Workforce Management Platform Planday it looks like they will be expanding their service offerings and hopefully in turn attracting more revenue and any businesses who have resisted switching across while awaiting those functionality changes.

Any stock market recovery will likely be led by tech stocks, so Xero is certainly worth keeping an eye on.

Comment:

Pulled back to the bottom of the range as expected. Good bit of upside to previous highs if it continues.