Securemetric Bhd (Trading Buy) • SMETRIC offers digital security solutions in Malaysia, Vietnam, the Philippines, Indonesia and Singapore.
• SMETRIC is a beneficiary of the digital transformation trend in the wake of the Covid-19 pandemic, banking on its newly launched SigningCloud services, a cloud-based platform that enables customers to sign electronic documents online using certified digital signatures in a seamless and secured environment.
• In the latest quarterly results, the Group turned around with net profit of RM0.5m in 2QFY20 (from net loss of RM2.1m in 1QFY20), thus narrowing its 1HFY20 net loss to RM1.6m (versus net profit of RM1.8m previously).
• On its balance sheet, net cash holdings stood at RM22.6m (translating to 4.2 sen per share or almost one-third of its existing share price) as of end-June 2020.
• Technically speaking, SMETRIC’s share price uptrend – following its ascent from RM0.035 in mid-March to peak at RM0.20 in early August – remains intact, judging by its ensuing rebounds after previously testing the Fibonacci retracement lines of 50% and 62% (see chart).
• That said, we reckon the stock is on track to challenge our resistance thresholds of RM0.17 (R1; 26% upside potential) and RM0.20 (R2; 48% upside potential).
• Our stop loss level is set at RM0.10 (or 26% downside risk from yesterday’s closing price of RM0.135).
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
OG_trader
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Posted by OG_trader > 2021-04-22 09:20 | Report Abuse
lembab la this counter. keyasic jalan already. gogogo