mTouche Technology Bhd (-ve)
SHARES in mTouche Technology Bhd (valuation: 0/3, fundamental: 1.55/3) yesterday closed 2.5 sen or 7.35% higher at 36.5 sen — the highest level in four years — with a market capitalisation of RM46.48 million. The counter saw 1.94 million shares traded yesterday, against its 200-day average volume of 1.16 million shares.
Shares in the company triggered our momentum algorithm for the second time this year after a continuous rally since June 19, which saw the counter gain nine sen to its current level despite no corporate announcement in the period. Year to date, the counter has already gained 143.33%.
For the quarter ended March 31, 2017, mTouche’s net profit stood at RM146,000 on the back of higher revenue and tighter cost management. Quarterly revenue was at RM6.38 million, which it said was an increase — thanks to improved market response to its mobile value-added services products.
http://www.theedgemarkets.com/article/stock-momentum-mtouche-technology-0
