Kaspi.kz AO

KSPI remains in a Stage 2 advancing regime with clear higher highs and higher lows supported by rising 9/21/50 EMAs. The recent pullback into the EMA cluster offers a favorable entry zone, with neutral OB/OS and no visible exhaustion. The active HHHL pattern reinforces medium-term bullish bias, though moderate Stage 3 transition risk warrants caution.

• ↑Q1 2026 revenue $200M (+31% YoY), led by 41% e-commerce GMV growth.
• ↑Turkey acquisition of Rabobank A.Ş. expands fintech footprint in fast-growing market.
• ↓Weak profitability factors: net income hit by higher interest expenses and Turkish costs.